U.S. Stocks Fall as Fed Minutes Damp Stimulus Expectation

U.S. stocks fell, a day after the Standard & Poor’s 500 Index rose to the highest level since 2008, as minutes from the Federal Reserve’s latest policy meeting damped expectations for more monetary stimulus.

Companies whose earnings are most tied to economic swings led the retreat, with S&P 500 indexes tracking energy, financial and raw-materials stocks falling at least 0.7 percent. Transocean Ltd. and Newmont Mining Corp. declined more than 2.8 percent as oil and gold prices slid. General Motors Co. sank 4.6 percent after posting vehicle sales that trailed estimates. Apple Inc. advanced 1.7 percent to a record after two analysts said the stock could surge to $1,000.