Economics
S&P 500 Falls Most for Week Since ’12 on Emerging Markets
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U.S. stocks fell for the week, giving benchmark indexes their biggest losses since 2012, as a selloff in emerging-market currencies and signs of weakness in China spurred concern that global growth will slow.
Caterpillar Inc., General Electric Co. and DuPont Co. tumbled more than 5.7 percent to lead declines in the Dow Jones Industrial Average. Cliffs Natural Resources Inc. lost 14 percent as raw-materials producers and industrial companies tumbled more than 3.9 percent. International Business Machines Corp. slid 5.5 percent as revenue declined for a seventh consecutive quarter amid weaker demand for servers. Netflix Inc. surged 17 percent as it projected customer growth that topped analysts’ estimates.