Economics
U.S. Stocks Fall as Banks Decline Amid Fed Speeches
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U.S. stocks fell, with the Standard & Poor’s 500 Index having the longest retreat in a month, as financial shares slumped and investors watched speeches from Federal Reserve officials for clues on monetary policies.
Goldman Sachs Group Inc. and Citigroup Inc. declined more than 2.7 percent as Atlantic Equities LLP forecast a drop in fixed-income trading revenue for the biggest U.S. banks. Homebuilders slipped 1.6 percent as a group before Lennar Corp. and KB Home report earnings tomorrow. Apple Inc. surged 5 percent after saying first-weekend sales of its new iPhones topped 9 million units.