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U.S. Stocks Fall Amid Coca-Cola Earnings, Stimulus Debate
Alex Barinka and Nikolaj GammeltoftU.S. stocks fell, halting the longest rally in the Standard & Poor’s 500 Index since January, as Coca-Cola Co.’s profit dropped and a Federal Reserve official called for cuts to stimulus.
Coca-Cola slid 1.9 percent as the beverage company said volumes missed estimates amid slowing economic growth in China and Europe. Goldman Sachs Group Inc. dropped 1.7 percent even after profit beat analysts’ projections. Automakers slid 1.8 percent after Goldman downgraded the group to neutral from buy, with Ford Motor Co. sliding 3 percent. Baidu Inc. jumped 4 percent after agreeing to acquire 91 Wireless for $1.9 billion.