U.S. Stocks Fall After Five-Week Rally; Boeing, Anadarko Slip
This article is for subscribers only.
U.S. stocks fell, dragging benchmark gauges down from two-year highs, as a five-week rally left the Standard & Poor’s 500 Index at the highest valuation since May and concerns over Irish debt curbed demand for riskier assets.
Travelers Cos., Boeing Co. and Home Depot Inc. led a drop in the Dow Jones Industrial Average, each sliding at least 1.3 percent. Anadarko Petroleum Corp. lost 4.3 percent after an analyst suggested BHP Billiton Ltd. as a more likely suitor for Woodside Petroleum Ltd. American International Group Inc. slipped 2.1 percent after being removed from UBS AG’s “Short-Term Buy” list.