US Stocks Fall as Fed’s Preferred Inflation Gauge Remains Sticky
US stocks retreated from records as investors took profits after the Federal Reserve’s preferred measure of underlying inflation remained stubbornly high last month. The S&P 500 Index fell 0.7% at 11:10 a.m. in New York, slipping below the key 6,500 level. The gauge is still on track to notch four straight months of gains and…