U.S. Stocks Fall as Concern About Europe Debt Crisis Intensifies
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U.S. stocks fell this week, giving the Standard & Poor 500 Index its seventh loss in eight weeks, amid concern the European debt crisis isn’t contained.
JPMorgan Chase & Co. and Bank of America Corp. fell at least 1.5 percent after European Central Bank President Jean-Claude Trichet said June 22 the turmoil threatens to infect banks. Micron Technology Inc. sank 7.9 percent, the most in the S&P 500, after reporting revenue and profit that missed analysts’ projections. Red Hat Inc., the largest seller of the Linux operating system, jumped 9.3 percent after beating estimates with its earnings forecast.