U.S. Stocks Fall on Europe Concern as Cyprus Rejects Levy
Bloomberg, (20/3) -- U.S. stocks fell,
sending the Standard & Poor’s 500 Index to its longest slump of the
year, as Cypriot lawmakers’ rejection of a bank levy overshadowed data
showing growth in new-home construction.
The S&P 500 fell 0.2 percent to 1,548.34 at 4 p.m. in New York, after dropping as much as 0.9 percent earlier. The gauge lost 1 percent over three days, the longest streak since Dec. 28. The Dow Jones Industrial Average added 3.76 points, or less than 0.1 percent, to 14,455.82. Stocks fell as Cyprus’s parliament rejected an unprecedented levy on bank deposits, dealing a blow to European plans to force savers to shoulder part of the country’s bailout in a standoff that risks renewed |