U.S. Stocks Slump as S&P Cuts Nation’s Long-Term Credit Outlook
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U.S. stocks slumped, sending benchmark indexes to their biggest declines in a month, after Standard & Poor’s Ratings Service cut the nation’s long-term credit outlook to negative.
Caterpillar Inc. and United Technologies Corp. sank at least 2.1 percent to help pace the declines in the Dow Jones Industrial Average. The Morgan Stanley Cyclical Index dropped