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U.S. Stocks Drop as Bullard Says Rates to Rise by March

U.S. stocks slipped for the third time in four days after James Bullard, president of the Federal Reserve Bank of St. Louis, suggested today that higher interest rates may happen sooner than people thought.

The Standard & Poor’s 500 Index lost 2.31 points, or 0.1 percent, to 1,957.22 at 4 p.m. in New York, paring an earlier drop of as much as 0.8 percent. The Dow Jones Industrial Average fell 21.38 points, or 0.1 percent, to 16,846.13.