U.S.
stocks fell, after the Standard & Poor™s 500 Index posted its first
back-to-back weekly retreat since October, as the continuing selloff in
crude pulled down energy shares before the start of corporate earnings.
Energy
shares tumbled 2.8 percent, the most among 10 groups in the S&P
500, as crude dropped 4 percent. Tiffany & Co. lost 14 percent after
the jewelry retailer lowered its annual forecast after sales declined
during the holiday. SanDisk Corp. fell the most in almost six years
after reporting preliminary results below its own estimates.
The
S&P 500 slid 0.8 percent to 2,028.43 at 4 p.m. in New York. Losses
accelerated after the market™s open as the benchmark gauge fell through
its average price for the past 50 days. The Dow Jones Industrial Average
lost 93.86 points, or 0.5 percent, to 17,643.51. The Nasdaq 100 Index
slid 1 percent as technology shares retreated.
Source: Bloomberg
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