U.S. Stocks Extend Losses on Confidence Drop

U.S. stocks extended losses as a gauge of consumer confidence trailed economists’ estimates, worsening earlier declines triggered by concern that plans to help Greece avoid default were unraveling.

The Standard & Poor’s 500 Index lost 1 percent to 1,338.76 at 10 a.m. in New York.

The Thomson Reuters/University of Michigan preliminary index of consumer confidence for February fell to 72.5 from 75 at the end of last month. Economists in a Bloomberg survey projected a median reading of 74.8.

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net

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