U.S. stocks fell for
the fourth time in five days, led by banks and technology companies, as
investors resumed a rotation out of the bull market™s biggest winners.
Citigroup Inc. dropped
the most since 2012 after its capital plan failed Federal Reserve
stress tests. Accenture Plc fell 5 percent after saying it anticipates a
continued œchallenging environment for its business. GameStop Corp.
lost 4 percent after its earnings forecast trailed analysts™ estimates.
Baxter International Inc. jumped 3.9 percent after announcing plans to
split into two companies. Alcoa Inc. rallied 6.2 percent.
The Standard &
Poor™s 500 Index declined 0.2 percent to 1,849.04 at 4 p.m. in New York,
trimming a loss of as much as 0.6 percent. The Dow Jones Industrial Average fell 5.43 points, or less than 0.1 percent, to 16,263.56. The Nasdaq Composite Index sank 0.5 percent to the lowest since Feb. 10.
The Chicago Board
Options Exchange Volatility Index, a gauge for U.S. stock volatility
also known as VIX, slid 2.6 percent to 14.54.
Copy Source: Bloomberg
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