U.S. Stocks Fall as Economy Concern Offsets Energy Gains
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U.S. stocks fell, dragging the Standard & Poor’s 500 Index lower for the seventh time in eight days, after the International Monetary Fund cut its global economic forecast and retail sales unexpectedly dropped.
JPMorgan Chase & Co. lost 2.7 percent while Home Depot Inc. and Caterpillar Inc. dropped more than 1 percent to lead the Dow Jones Industrial Average lower. Equities pared losses as energy companies rose with the price of oil while Visa Inc. and MasterCard Inc., the world’s biggest payment networks, gained at least 1.7 percent after agreeing to a settlement of at least $6.05 billion in a price-fixing case.