Pursuits
U.S. Stocks Drop as House Republicans Cancel Vote
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U.S. stocks sank, paring the weekly gain in the Standard & Poor’s 500 Index, after House Republican leaders canceled a vote on higher taxes for top earners and sent budget talks deeper into turmoil.
Bank of America Corp. lost 2 percent for the biggest decline in the Dow Jones Industrial Average. Micron Technology Inc. slumped 6.9 percent after posting a wider first-quarter loss. Research In Motion Ltd. tumbled 23 percent after the BlackBerry maker said it will overhaul service fees. Nike Inc. advanced 6.2 percent as the world’s largest sporting-goods company’s profit exceeded analysts’ projections.