NEW YORK |
NEW YORK (Reuters) ? The SP 500 index retreated on Tuesday from near a seven-month high after weaker-than-expected January U.S. retail sales data curbed investors? appetite for risky assets.
Leading the fall was the financial sector, with two of the top three biggest decliners on the Dow Bank of America and JPMorgan Chase Co (JPM.N).
Citigroup downgraded Bank of America Corp (BAC.N) to ?neutral? from ?buy,? saying earnings headwinds would continue at the company even as capital concerns subside. Bank of America shares were down 1.1 percent at $8.16 and JPMorgan shares fell 1.5 percent to $37.70.
The 0.4 percent rise in retail sales fell short of the 0.7 percent increase
Read More from the Article Source: http://feeds.reuters.com/~r/reuters/businessNews/~3/HUOwsWdfaxk/us-markets-stocks-idUSTRE80T0J120120214
Source: http://www.rocketnews.com/2012/02/wall-street-falls-after-retail-sales-data-disappoints/
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