U.S. Stocks Drop From Records as Energy Producers Sink
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U.S. stocks fell a third day, giving the Standard & Poor’s 500 Index its longest slump since June, as energy producers sank with oil prices to overshadow new stimulus from the European Central Bank.
Energy shares sank 1.3 percent for the biggest drop among the 10 main S&P 500 groups, as crude fell 1.1 percent in New York. Chevron Corp. and Exxon Mobil Corp. each lost 0.8 percent to pace declines in the Dow Jones Industrial Average. PVH Corp. surged 9.6 percent after the owner of the Calvin Klein clothing brand posted profit that topped estimates. Fastenal Co. rose 4 percent after reporting a sales increase.