U.S. Stocks Drop, Treasuries Rise as Production Declines

Most U.S. stocks fell, with gauges of small-cap and technology shares tumbling, while Treasuries ended a seven-day slide as investors assessed an unexpected drop in production before a rate decision in two days. Copper dropped on weak Chinese data.

The Standard & Poor’s 500 Index fell 0.1 percent at 4 p.m. in New York, trimming earlier losses of 0.4 percent after energy shares gained. The Nasdaq 100 Index of technology shares and the Russell 2000 index of small companies retreated at least 1 percent as investors sold some of the bull market’s biggest winners. The yield on the 10-year Treasury note retreated three basis points to 2.59 percent. Emerging-market stocks dropped for an eighth day. Copper retreated 0.6 percent, while the dollar erased gains and oil reversed losses.