The S&P 500 Index dropped for the first time in five sessions, with real estate companies and utilities among the worst performers. The tech-heavy Nasdaq 100 outperformed after EBay Inc. raised its forecast for sales and earnings.
NEW YORK: Stocks slumped in the U.S. and Europe as concern the recent rally had gone too far too fast overshadowed new stimulus measures and encouraging economic data.
The S&P 500 Index dropped for the first time in five sessions, with real estate companies and utilities among the worst performers. The tech-heavy Nasdaq 100 outperformed after EBay Inc. raised its forecast for sales and earnings.
Treasury yields rose as weekly jobless claims fell to 1.88 million, reflecting a slowing in job losses. The Stoxx 600 stayed lower in the wake of the European Central Bank decision to add 600 billion euros to its pandemic purchase program, more than expected.
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