Dow Average Halts Five-Day Rally as Boeing Declines
This article is for subscribers only.
U.S. stocks fell the most in three weeks, with the Dow Jones Industrial Average halting a five-day rally, as the World Bank cut its forecast for global growth and Boeing Co. sank.
The world’s largest plane maker dropped the most in two months after U.S. House Majority Leader Eric Cantor’s defeat in a primary election threatened congressional reauthorization of low-cost lending that benefits the company. Bank of America Corp. dropped 2.1 percent after a report said the Justice Department may seek $17 billion to settle probes into mortgage lending. Anadarko Petroleum Corp. rose to a record amid speculation of a takeover. H&R Block Inc. added 4.6 percent after reporting sales that topped analysts’ forecasts.