Aug. 13 (Bloomberg) -- U.S. stocks fell, sending the Standard & Poor’s 500 Index to a fourth straight loss, after consumer confidence beat estimates while a measure of retail sales unexpectedly decreased. Oil slipped and Treasuries advanced as an inflation gauge accelerated. The S&P 500 fell 0.3 percent to 1,079.96 at 11:47 a.m. in New York, after earlier advancing 0.2 percent. The Stoxx Europe 600 Index rose 0.3 percent. Benchmark 10-year notes were headed for a third weekly rally after the Federal Reserve said on Aug. 10 that it will revive purchases of U.S. debt to help spur the economy. Oil traded at its lowest level in a month as a lack of jobs prompted Americans to hold back on spending. The confidence report helped offset speculation that U.S. retail sales are slowing, while the increase in consumer prices prompted optimism that the Federal Reserve won’t be forced to fight deflation. Equities slumped earlier as concern about sputtering growth in Greece and Spain overshadowed the fastest growth in the German economy in two decades. “We in the market are coming to the realization, and we’re getting confirmation from the economic data, that we are having a slowdown,” said James Thorne, who oversees $2 billion as chief investment officer for equities at MTB Investment Advisors in Baltimore. “The market is guilty until proven innocent, and the charge is a double-dip recession.” Economic Reports The 10-year note yield dropped 3 basis points, or 0.03 percentage point, to 2.72 percent. The yield was headed for a weekly drop of 10 basis points, according to Bloomberg generic data. The two-year note yield slid to a record low 0.4892 percent on Aug. 11. Spanish Borrowing Spanish banks borrowed a record 130.2 billion euros ($167.2 billion) from the European Central Bank in July as investors shun the debt-ridden nation’s lenders. Almost $2 trillion has been wiped from the value of global equities since the Fed said the pace of recovery in the world’s biggest economy will probably be “more modest” than forecast. European stocks rallied earlier after Germany reported gross domestic product grew at the fastest pace in two decades. The premium investors demand to hold Greek 10-year bonds instead of German debt of similar maturity rose to 800 basis points for the first time since June 28. Spanish bond yields climbed 7 basis points to 4.28 percent. Spain’s borrowing rose 3.1 percent from 126.3 billion euros in June, according to daily averages compiled by the Bank of Spain. The yield on Italy’s 10-year government bonds rose 3 basis points to 3.86 percent as the government sale of 2015 and 2025 debt. Oil, Wheat The Thomson Reuters/Jefferies CRB Index of commodities headed for the first weekly decline in six, dragged down by oil, copper and wheat. Oil for September delivery fell 43 cents to $75.31 a barrel on the New York Mercantile Exchange, the lowest price since July 16. Futures have fallen 6.7 percent this week, the most since the week ended July 2. December-delivery wheat gained 0.6 percent to $7.4825 a bushel on the Chicago Board of Trade, limiting this week’s decline to 1 percent. Wheat climbed 2.9 percent in the last three days after the U.S. predicted global output will fall to a three-year low as a drought shrinks Russian crops. Copper for September delivery on the Comex in New York has declined 2.5 percent this week as a strengthening dollar cut demand for commodities as an alternative investment. A stronger dollar makes metals priced in the currency more expensive in other countries. --With assistance from Elizabeth Stanton, Margot Habiby, Mark Shenk and Cordell Eddings in New York and Steve Stroth in Chicago. Editors: Nick Baker. To contact the reporters on this story: Stephen Kirkland in London at skirkland@bloomberg.net; Stephanie Borise at sborise1@bloomberg.net To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net.

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