Economics
U.S. Stocks Fall on Fed Concerns Amid Corporate Earnings
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U.S. stocks fell, following the biggest drop since November for the Standard & Poor’s 500 Index, as concern grew that the U.S. Federal Reserve may slow the pace of stimulus and investors weighed corporate earnings.
VeriFone Systems Inc. lost 43 percent after the maker of credit-card terminals forecast second-quarter profit that missed analysts’ estimates because of weak economic conditions in Europe. Wal-Mart Stores Inc. rose 1.5 percent as the world’s biggest retailer reported earnings that topped forecasts. Hewlett-Packard Co. rallied 6.7 percent after regular trading as its outlook exceeded estimates.