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S&P 500 Has Longest Decline Since July Amid Concern Over Europe
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U.S. stocks fell for a fifth day, sending the Standard & Poor’s 500 Index to its longest retreat since July, as concern grew Europe’s debt crisis is worsening.
PulteGroup Inc. dropped 4.7 percent, helping to give homebuilders their biggest decline since June, after new homes sales missed estimates. Energy and technology companies dropped the most among the benchmark gauge’s 10 industry groups as oil fell to a seven-week low and Jabil Circuit Inc. tumbled 9.9 percent amid a disappointing forecast.