U.S. Stocks Drop Most in 2 Weeks as Oil Falls, Dollar Gains
- Alphabet, Microsoft retreat in afterhours trading on earnings
- ECB keeps interest rates, asset-purchase program unchanged
Is the Gloom Lifting on the Mining Sector?
U.S. stocks slid the most in two weeks amid disappointing corporate results and a retreat in crude, as rallies in risk assets faltered amid growing concern central-bank stimulus won’t spark growth.
The Standard & Poor’s 500 Index retreated from a four-month high after climbing within 1 percent of its record. Results from Alphabet Inc., Microsoft Corp. and Visa Inc. reported after regular trading disappointed investors. Shares in the Google parent and Microsoft fell at least 4 percent in afterhours trading as of 5:10 p.m. in New York. The euro ended little changed after whipsawing after the European Central Bank’s latest policy meeting. Crude fell below $43.50 a barrel, and Treasuries declined as U.S. jobless claims sank.