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May 16 (Bloomberg) — U.S. stocks fell, amid a sell off in small-cap companies, as an unexpected drop in consumer confidence offset a gain in housing starts. Treasuries slipped while the rupee strengthened for a third day.

The S&P 500 fell 0.3 percent at 10:15 a.m. in New York, after sliding 0.9 percent yesterday. The Russell 2000 Index retreated 0.5 percent. The Stoxx Europe 600 Index dropped 0.1 percent, after losing as much as 0.6 percent earlier. Yields on 10-year Treasuries rose two basis points to 2.51 percent, climbing from the lowest level since October. The rupee gained 0.9 percent against the dollar as results showed Narendra Modi’s main opposition bloc will take power. Nickel climbed 2 percent.

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