U.S. Stocks Decline as Bank, Technology Shares Lead Drop
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U.S. stocks fell for the fourth time in five days, led by banks and technology companies, as investors resumed a rotation out of the bull market’s biggest winners.
Citigroup Inc. dropped the most since 2012 after its capital plan failed Federal Reserve stress tests. Accenture Plc fell 5 percent after saying it anticipates a continued “challenging” environment for its business. GameStop Corp. lost 4 percent after its earnings forecast trailed analysts’ estimates. Baxter International Inc. jumped 3.9 percent after announcing plans to split into two companies. Alcoa Inc. rallied 6.2 percent to the highest since 2011.