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U.S. stocks fell
U.S. stocks fell, snapping a two-day advance for the Standard & Poor’s 500 Index, amid concern that Europe’s debt crisis will stifle global economic growth.
S&P 500 1,290 -2.26 -0.17%
NASDAQ 2,706 +3.69 +0.14%
Dow 12,428 -34.06 -0.27%
Leading the Dow's decliners were energy and consumer-staple stocks. Coca-Cola dropped 2.1% and Chevron lost 1%. Telecommunications and materials limited some of the losses. Verizon Communications rose 1% and AT&T added 0.5%.In corporate news, Urban Outfitters plunged 18% after the apparel retailer said its chief executive officer, Glen Senk, has resigned to pursue another opportunity. He will be succeeded as CEO by Richard Hayne, currently the company's chairman.
Supervalu sank 11% after the supermarket operator's third-quarter loss widened on larger writedowns and weaker sales. Revenue fell short of expectations and the company cut its sales view for the current year.
Lennar jumped 8% after the homebuilder reported better-than-expected revenue, offsetting earnings that fell shy of estimates.
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