U.S. Stocks Decline Most Since November Amid Italian Elections
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U.S. stocks fell, giving benchmark indexes their biggest losses since November, as partial election results spurred concern about prospects for a stable government in Italy and a worsening of Europe’s debt crisis.
Lowe’s Cos. tumbled after forecasting profit this year that trailed analysts’ estimates amid sales to clear slower-moving merchandise. Chesapeake Energy Corp. slumped 6.8 percent after agreeing to sell a stake in an Oklahoma oilfield to China Petrochemical Corp. for less than one-third of its estimated value. ITT Educational Services Inc. tumbled 17 percent after disclosing that U.S. regulators subpoenaed documents related to private loan programs for its students.