S&P500 index posts worst fall since April; indexes down for July

The U.S. S&P500 stock index posted its worst daily fall since April and its first monthly drop since January on Thursday, as economic data sparked concern the Federal Reserve could raise interest rates sooner than some have expected. Data showing that U.S. labor costs recorded their biggest gain in more than 5-1/2 years in the second quarter this year came a day after the Fed upgraded its assessment of the U.S. economy while reiterating it was in no hurry to raise rates. Problems in overseas economies added to the bearish tone, with Argentina defaulting on its debt for the second… Continue reading

Fed taper anxiety triggers profit taking on Wall St.

Stocks posted their largest drop in a month on Wednesday as traders locked in recent gains after a provisional budget deal out of Washington … Continue reading