U.S. Stocks Decline After Strongest Three-Day Rally Since August
- Wal-Mart slides as outlook disappoints, bank shares sink
- IBM rallies on $2.6 billion Truven Health Analytics deal
This article is for subscribers only.
U.S. stocks declined following the Standard & Poor’s 500 Index’s strongest three-day advance in almost six months, as banks, technology and consumer shares lost momentum after bolstering the rally.
Wal-Mart Stores Inc. fell 3 percent after lowering its annual sales forecast. JPMorgan Chase & Co. and Citigroup Inc. lost more than 1.6 percent as banks declined for the first time in four sessions. Energy producers sank despite higher crude prices. International Business Machines Corp. rose 5 percent after agreeing to purchase Truven Health Analytics for $2.6 billion.