Selloff Led by Energy Halts Longest S&P 500 Rally Since October
- Data from Japan, China rekindle global growth worries
- Small-cap energy shares drop the most since November 2014
China Reality Check Dashes Stocks Rally
This article is for subscribers only.
The Standard & Poor’s 500 Index fell the most in two weeks, led by a selloff in energy shares, after worsening economic data from Asia reignited concern over the outlook for global growth.
Commodity companies and banks, pillars of the market’s recent gains, paced declines. Energy producers in the S&P 500 fell the most in six weeks as oil retreated, while the Russell 2000 Energy Index posted the biggest drop since November 2014. JetBlue Airways Corp. tumbled 9 percent to lead airlines lower after a revenue forecast disappointed. Urban Outfitters Inc. jumped the most in more than three years after its quarterly profit topped estimates.