Economics
U.S. Stocks Join Global Selloff Amid Europe’s Political Concern
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U.S. stocks joined a global selloff as political uncertainty in France and the Netherlands intensified concern about Europe’s sovereign debt crisis.
Bank of America Corp. fell 2.2 percent, following a drop in European lenders, as Dutch Prime Minister Mark Rutte offered to quit after lawmakers split over austerity and French President Nicolas Sarkozy lost the first round of his re-election bid. Monsanto Co. and U.S. Steel Corp. slid at least 1.8 percent as European and Chinese manufacturing shrank. Wal-Mart Stores Inc. retreated 4.7 percent amid a bribery probe in Mexico.