U.S. Stocks Retreat Following S&P 500’s Worst Week Since 2012

U.S. stocks fell, extending losses after the worst week for benchmark indexes since 2012, amid concern over the Federal Reserve’s plans to cut stimulus and an economic slowdown in China.

The Standard & Poor’s 500 Index slipped 0.5 percent to 1,781.54 at 4 p.m. in New York after tumbling 2.6 percent last week. The Dow Jones Industrial Average slipped 41.36 points, or 0.3 percent, to 15,837.75. Both gauges closed at the lowest levels since the middle of December. Trading in S&P 500 stocks was 37 percent above the 30-day average during this time of day. The S&P 500 sank the most since June 2012 last week as a sell-off in developing-nation currencies spurred concern global markets will become more volatile. The decline pushed the index below its average price in the past 50 days for the first time since October. The threshold is currently near 1,813. Copy Source : Bloomberg