S&P 500 Drops Most in Month as Budget Deal Spurs Fed Bets

U.S. stocks fell a second day, giving the Standard & Poor’s 500 Index its biggest back-to-back drop in two months, as a congressional budget accord fueled speculation the Federal Reserve could trim stimulus next week.

Cisco Systems Inc. lost 1.6 percent after losing a European Union court bid to overturn approval of Microsoft Corp.’s 2011 takeover of Skype Technologies SA. Laboratory Corp. of America Holdings plunged 11 percent after issuing a profit forecast below analysts’ estimates. MasterCard Inc. climbed 3.5 percent after saying its board of directors approved an 83 percent dividend increase and a 10-for-1 stock split.