U.S. Stocks Fall on Economic Data as Fed Maintains Plan

U.S. stocks fell, dragging the Standard & Poor’s 500 Index from a record high, on slower growth in American payrolls and manufacturing as the Federal Reserve said it will maintain its bond buying to support the economy.

Commodity companies dropped the most among 10 S&P 500 industries as oil and copper tumbled. Merck & Co. slid 2.8 percent after cutting its full-year forecast. Allergan Inc. slumped 13 percent after delaying further study of an experimental drug for age-related macular degeneration. Comcast Corp. and Viacom Inc. gained more than 1.3 percent after the media companies reported quarterly profits.