Pursuits
U.S. Stocks Slip From 6-Week High as Recent Rally Leaders Falter
- Banks retreat from highest since Feb. 4; Energy falls with oil
- Pace of China's growth remains a sore spot for investors
Why U.S. Stocks May Be Poised for a Short-Term Bounce
This article is for subscribers only.
U.S. stocks declined from six-week highs, paced by banks as the recent rally’s strongest performers lost momentum while investors assessed global growth prospects amid renewed concern that China will remain a drag.
Lenders, which have buttressed the latest rebound in equities, fell Tuesday with JPMorgan Chase & Co. and Citigroup Inc. losing at least 3.2 percent. Freeport-McMoRan Inc. declined 8.7 percent and Chevron Corp. sank 4.4 percent as a rout in crude oil weighed on commodity shares. Apple Inc. and Microsoft Corp. fell more than 2.2 percent, dragging down the technology group.