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U.S. Stocks Slide Amid Wal-Mart Profit Outlook, JPMorgan Results
- Wal-Mart tumbles the most in 27 years on profit outlook
- JPMorgan leads banks lower after quarterly results disappoint
Wal-Mart's Worrisome Stock Chart
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U.S. stocks retreated for a second day, with investors anxious about corporate profits as Wal-Mart Stores Inc. predicted earnings will decline next year and quarterly results from JPMorgan Chase & Co. disappointed.
Wal-Mart tumbled the most in 27 years, while JPMorgan slid 2.5 percent after cautioning that trading this quarter is off to a tepid start. Boeing Co. sank 4 percent to lead industrials lower. Commodity shares, pillars of the equity rebound from a third-quarter slump, rose as a measure of the dollar hit a three-month low. Netflix Inc. fell in late trading after reporting weaker-than-estimated subscriber growth.