U.S.
stocks slid, pulling benchmark indexes down from records, with energy
producers leading declines as oil dropped to the lowest level since
2009.
Exxon
Mobil Corp. and Chevron Corp. declined more than 2.3 percent to pace
losses in 42 of 43 energy companies in the Standard & Poors 500
Index. McDonalds Corp. lost 3.8 percent, the most in two years, after
same-store sales trailed analysts estimates. Cubist Pharmaceuticals Inc.
jumped 35 percent as Merck & Co. agreed to acquire the maker of
antibiotics.
The
S&P 500 fell 0.7 percent to 2,060.47 at 4 p.m. in New York, its
worst loss in almost two months. The Dow Jones Industrial Average slid
105.03 points, or 0.6 percent, to 17,853.76. The Russell 2000 Index of
smaller companies dropped 1.3 percent.
U.S.
stocks began their biggest retreat of the day, a 0.4 percent tumble
that began at 12:09 p.m. in New York and lasted 10 minutes, as a handful
of large trades in the S&P 500 e-mini contract hit the market. Four
transactions in sizes ranging from 300 to 470 contracts occurred
between 12:10:41 and 12:13:28 p.m., according to data compiled by
Bloomberg.
Source : Bloomberg
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