U.S. Stocks Fall as Investors Weigh Fed Comments, Data
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U.S. stocks fell, with the Standard & Poor’s 500 Index snapping a streak of seven monthly gains, as comments from Federal Reserve Governor Jeremy Stein spurred concern the central bank may begin to reduce stimulus in September.
Accenture Plc, the world’s second-largest technology-consulting company, slumped 10 percent after its quarterly sales forecast missed analysts’ estimates. International Business Machines Corp. lost 2.3 percent for the biggest retreat in the Dow Jones Industrial Average. BlackBerry, the Canadian smartphone maker, fell the most in 12 years after reporting a surprise quarterly loss.