The Standard & Poor’s 500 Index retreated from a record amid concern the Federal Reserve will scale back its stimulus efforts. Gold and silver advanced as Moody’s Investors Service warned the U.S. rating may be cut. The yen rebounded from the weakest level since 2008.
Teva Pharmaceutical Industries Ltd.’s surge to a three-year high is creating a windfall for billionaire George Soros after he lifted the Israeli drugmaker above Microsoft Corp. to become the biggest holding in his fund.
U.S. stocks fell, paring a weekly gain for the Standard & Poor’s 500 Index, after better-than- forecast payrolls failed to keep commodity and technology shares from slumping as Americans prepared to pick a president.