S&P 500 Posts Biggest Weekly Drop Since June on Economy

U.S. stocks fell for the week, as the Standard & Poor’s 500 Index posted its biggest drop since June, on concern Europe’s debt crisis is worsening and stimulus measures may not be enough to boost economic growth.

The S&P Supercomposite Homebuilding Index slid 7.3 percent for the first drop in five weeks amid worse-than-expected housing data. Technology stocks and commodity producers led declines as investors sold shares of companies most tied to economic swings. Apple Inc. posted its biggest drop since May after the release of its iPhone 5. Caterpillar Inc. slid 6.2 percent as it cut its earnings forecast.