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U.S. Stocks Drop on ECB Stimulus Plans as Energy Slumps

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U.S. stocks fell from record levels, led by energy shares, as Mario Draghi’s remarks on European Central Bank stimulus disappointed investors before a report on the American labor market.

Chevron Corp. slid 1.3 percent as energy shares tumbled the most among groups in the Standard & Poor’s 500 Index. Microsoft Corp. rose 1.6 percent as Barnes & Noble Inc. said it will buy back the company’s stake in its Nook business.