Deals
U.S. Stocks Extend Global Drop as Oil, Bank of America Decline
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U.S. stocks fell, pulling the Dow Jones Industrial Average down from an 11-month high, on speculation a six-month rally has outpaced prospects for profit growth. European and Asian shares dropped, while oil and gold retreated as the dollar rose. Treasuries were little changed.
Bank of America Corp. lost 2.2 percent on a report that it may drop a loss-sharing agreement with the government. Halliburton Co. helped lead declines in 33 of 40 shares in a gauge of energy companies as crude slid below $70 a barrel, while Newmont Mining Corp. declined as metals fell. Lennar Corp. dropped 3.1 percent after the homebuilder’s loss doubled.