U.S. stocks fell
30.09.2011 16:49:00
U.S. stocks fell, extending the biggest quarterly drop since 2008 for the Standard & Poor’s 500 Index, after reports from China and Germany fueled concerns the global economy is slowing.
Equities trimmed declines after consumer companies that sell necessities reversed declines and U.S. data showed business activity and consumer confidence topped projections. Companies most tied to economic growth had the biggest declines among 10 groups in the S&P 500. American Express Co. fell 2.2 percent, while General Electric Co. (GE) lost 2.4 percent. Micron Technology Inc. (MU) slid 12 percent after reporting an unexpected loss on weak demand for personal computers.
The S&P 500 retreated 0.8 percent to 1,151.13 at 12:01 p.m. New York time, after falling as much as 1.7 percent earlier. The Dow Jones Industrial Average lost 39.88 points, or 0.4 percent, to 11,114.10.
Equities trimmed declines after consumer companies that sell necessities reversed declines and U.S. data showed business activity and consumer confidence topped projections. Companies most tied to economic growth had the biggest declines among 10 groups in the S&P 500. American Express Co. fell 2.2 percent, while General Electric Co. (GE) lost 2.4 percent. Micron Technology Inc. (MU) slid 12 percent after reporting an unexpected loss on weak demand for personal computers.
The S&P 500 retreated 0.8 percent to 1,151.13 at 12:01 p.m. New York time, after falling as much as 1.7 percent earlier. The Dow Jones Industrial Average lost 39.88 points, or 0.4 percent, to 11,114.10.
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