Lululemon Athletica Inc. fell the most in more than three months after an analyst at Sterne Agee & Leach Inc. said the yoga-wear retailer didn’t provide a clear strategy for improving sales at a recent presentation.
The NASDAQ Composite Index has lost four percentage points in two and half days, led lower by technology and biotechnology. These have been the momentum darlings over the past year. What a difference a month makes.
Exchange-traded funds that target financial firms were whipsawed as Federal Reserve Chair Janet Yellen’s remarks on interest rates left investors struggling to gauge how soon future increases will help U.S. bank profits.
The biggest U.S. banks are about to learn whether they can pay out more than $75 billion in excess capital to investors as the Federal Reserve completes stress tests of their ability to survive new economic calamities.