U.S. stocks fell for the week, giving benchmark indexes their biggest loss since January, as mounting tensions in Ukraine and signs of a slowdown in China overshadowed reports showing an improving American economy.
U.S. stocks slumped, with the Dow Jones Industrial Average sliding to the lowest close in a month, while Treasuries rose after a gauge signaled contraction in Chinese manufacturing. Emerging-markets equities slipped and the dollar retreated while gold and natural gas climbed.
American Eagle Outfitters Inc., the the struggling teen-apparel retailer, said Chief Executive Officer Robert Hanson is leaving the company and Executive Chairman Jay Schottenstein will replace him on an interim basis.
U.S. stocks fell for the week, giving benchmark indexes their biggest losses since 2012, as a selloff in emerging-market currencies and signs of weakness in China spurred concern that global growth will slow.
Companies from DreamWorks Animation SKG to American Eagle Outfitters Inc. are attractive takeover targets because they have cash-heavy balance sheets and their stocks have declined, said Morningstar Inc.