U.S. stocks slid, pulling benchmark indexes down from records, with energy producers leading declines as oil dropped to the lowest level since 2009.
Exxon Mobil Corp. and Chevron Corp. declined more than 2.3 percent to pace losses in 42 of 43 energy companies in the Standard & Poors 500 Index. McDonalds Corp. lost 3.8 percent, the most in two years, after same-store sales trailed analysts estimates. Cubist Pharmaceuticals Inc. jumped 35 percent as Merck & Co. agreed to acquire the maker of antibiotics.
The S&P 500 fell 0.7 percent to 2,060.47 at 4 p.m. in New York, its worst loss in almost two months. The Dow Jones Industrial Average slid 105.03 points, or 0.6 percent, to 17,853.76. The Russell 2000 Index of smaller companies dropped 1.3 percent.
U.S. stocks began their biggest retreat of the day, a 0.4 percent tumble that began at 12:09 p.m. in New York and lasted 10 minutes, as a handful of large trades in the S&P 500 e-mini contract hit the market. Four transactions in sizes ranging from 300 to 470 contracts occurred between 12:10:41 and 12:13:28 p.m., according to data compiled by Bloomberg.
Source : Bloomberg