U.S. stocks declined a fifth day, sending the Standard & Poor’s 500 Index to a two-week low, after improving economic data boosted bets the Federal Reserve will curb its monthly bond purchases sooner than estimated.
U.S. and European stocks fell for a fifth day, gold slid and Treasury yields reached the highest since September as improving economic data fueled bets the Federal Reserve will reduce bond purchases. The euro rose as the central bank gave no sign it will start negative deposit rates.
Asian stocks fell, with the regional benchmark index declining to a three-week low, amid concern signs of improvement in the U.S. jobs market will prompt the Federal Reserve to bring forward cuts to stimulus.
Hayman Capital Management LP has taken a stake in General Motors Co., said a person familiar with the matter, indicating further investor confidence in the auto industry’s recovery as the U.S. winds down its ownership role.