U.S. stocks fell, ending four days of records for the Standard & Poor’s 500 Index, amid disappointing economic data and after a Federal Reserve official said the central bank may slow the pace of stimulus as early as this summer.
Wal-Mart Stores Inc. lost 1.7 percent after the world’s largest retailer forecast second-quarter profit that was less than analysts estimated as the slow U.S. economy and higher taxes put pressure on consumers. PulteGroup Inc. and D.R. Horton Inc. fell at least 2.3 percent as housing starts slumped in April. Cisco Systems Inc. surged 13 percent after reporting fiscal third-quarter profit that topped estimates.