Economics
U.S. Stocks Fall With Energy Shares Leading as Oil Resumes Slide
- Banks join commodity shares to weigh on major indexes
- S&P 500 poised for its worst January decline since 2009
Equities, Earnings Await a Push From Retail Sales
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U.S. stocks fell, with declines accelerating in the final hour of trading after crude oil extended its selloff, as equities lost momentum following their first weekly advance this year.
The struggle to climb out of the January hole continued as energy shares in the Standard & Poor’s 500 Index fell the most since August, with Exxon Mobil Corp. and Chevron Corp. losing at least 3.1 percent. Bank of America Corp. had its biggest drop since September as lenders retraced Friday’s rally. McDonald’s Corp. gained after the fast-food giant’s earnings beat analysts’ forecasts. Tyco International Plc surged 12 percent after Johnson Controls Inc. agreed to merge with the company.