U.S. Stocks Post First Two-Week Decline Since November

U.S. stocks fell for the week, sending the Standard & Poor’s 500 Index to its first back-to-back decline since November, as investors speculated the Federal Reserve will consider scaling back stimulus efforts.

Telephone and utility shares helped lead a retreat in companies that offer stable earnings and high dividends as Exelon Corp. and Verizon Communications Inc. tumbled at least 5.7 percent. Financial and technology stocks were the only groups with gains among the S&P 500’s 10 main industries. Bank of America Corp. and Morgan Stanley jumped more than 3 percent as Moody’s Investors Service lifted its outlook for the U.S. banking system. EMC Corp. rose 4.7 percent after expanding its share buyback plan and starting a quarterly dividend.