U.S. Stocks Fall as Wal-Mart Tumbles While Oil Drops
This article is for subscribers only.
U.S. stocks slipped, keeping benchmark indexes at the lowest levels in more than three months, while Treasuries rose for a sixth day as lawmakers prepared for budget talks and conflict escalated in Israel.
The Standard & Poor’s 500 Index lost 0.2 percent to 1,353.32 at 4 p.m. in New York, led by consumer-staples retailers after Wal-Mart Stores Inc.’s results disappointed investors. Ten-year Treasury yields decreased less than one basis point to 1.58 percent and have fallen 16 basis points since Nov. 6. The yen weakened on speculation of more aggressive monetary stimulus. New York-traded crude oil slid after inventories rose to a three-month high.