U.S.
stocks declined, with the Standard & Poor 500 Index erasing a
weekly gain, as results from Amazon.com Inc. to Visa Inc. disappointed
and tension escalated over Ukraine.
Amazon.com
dropped 8.9 percent after predicting an operating loss in the current
quarter. Visa sank 3.9 percent after revenue missed analyst targets.
Ford Motor Co. slipped 3.1 percent after posting earnings that trailed
analysts�� estimates. Microsoft Corp. climbed 0.7 percent as profit
exceeded projections.
The
S&P 500 dropped 0.7 percent to 1,865.77 at 12:56 p.m. in New York.
The Dow Jones Industrial Average decreased 127.96 points, or 0.8
percent, to 16,373.69. Visa is the biggest member of the Dow. Trading in
S&P 500 stocks was 2.7 percent above the 30-day average at this
time of day.
Copy Source: Bloomberg
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