U.S. stocks sank for the week, sending the Dow Jones Industrial Average to its longest losing streak since August 2011, as investors fixated on federal budget negotiations between President Barack Obama and Congress.
U.S. stocks fell, with the Dow Jones Industrial Average posting its first three-day losing streak this year, as investors weighed prospects for economic growth and the pace of Federal Reserve stimulus measures.
U.S. stocks fell, capping a fourth straight weekly slump for the Standard & Poor’s 500 Index, as the cheapest price-earnings ratios since 2009 failed to lure investors amid concern the global economy is weakening. The yen touched a post-World War II high against the dollar.
U.S. stocks pared losses in the final half hour of trading as investors debated whether the Federal Reserve will embark on another economic stimulus program. The Dollar Index touched a two-year high while commodities gained and Treasuries were little changed.
The Standard & Poor’s 500 Index erased losses in the final hour of trading as investors weighed the Federal Reserve’s latest policy minutes for evidence that the central bank may be closer to additional stimulus actions.
Bank of America Corp. and Citigroup Inc. led U.S. bank stocks lower as a weak U.S. economy, Europe’s debt crisis and losses linked to souring home loans threaten to undermine financial industry earnings.
U.S. stocks advanced, trimming the biggest weekly decline since October 2008 for the Dow Jones Industrial Average, amid speculation that policy makers will act to prevent a global financial crisis from getting worse.