Treasuries, Oil Fall Before Fed; U.S. Stocks Extend Drop

Treasuries fell before the Federal Reserve’s meeting tomorrow and commodities slid after data on U.S. home sales missed forecasts. U.S. stocks slipped, with the Standard & Poor’s 500 Index extending its biggest weekly drop since 2012 as emerging-market shares declined.

The U.S. 10-year yield climbed three basis points to 2.75 percent as of 4:43 p.m. in New York. The S&P 500 lost 0.5 percent to 1,781.56. The MSCI Emerging Markets Index slid 1.9 percent and Chinese shares in Hong Kong lost 2.2 percent. The pound rose against 14 of its 16 major peers. Turkey’s lira rallied, reversing earlier losses of more than 2 percent, as the central bank said it would meet tomorrow. Natural gas sank 6.5 percent and oil fell, leading declines among commodities.