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U.S. Stocks Retreat as Dow Halts Eight-Day Rally; GE Tumbles

U.S. stocks fell, ending the Dow Jones Industrial Average’s longest winning streak in two months, following worse-than-estimated sales at Bank of America Corp., Citigroup Inc. and General Electric Co. and consumer confidence that sank to the lowest level in a year.

Bank of America and Citigroup dragged financial companies in the Standard & Poor’s 500 Index to a 2.9 percent loss, the most among 10 industries. Home Depot Inc. slumped 4.1 percent, helping lead declines among consumer companies, after U.S. retail sales dropped for a second month in June. GE slipped 2.7 percent after missing revenue forecasts. Goldman Sachs Group Inc. rallied 5.9 percent on its $550 million settlement of the federal government’s fraud lawsuit.