US STOCKS-Wall St dips after data; Citi leads financials lower

jueves 27 de marzo de 2014 12:56 GYT
 

* Citigroup shares slump after Fed rejects capital plan

* GDP grew 2.6 pct in Q4; jobless claims unexpectedly drop

* Dow off 0.02 pct; S&P 500 down 0.2 pct; Nasdaq off 0.5 pct (Updates to midday, changes byline)

By Chuck Mikolajczak

NEW YORK, March 27 (Reuters) - U.S. stocks slipped on Thursday as some positive economic data failed to counter lingering geopolitical concerns, although losses were limited as the end of the quarter approached.

The U.S. economy grew a bit faster than previously estimated in the fourth quarter and new claims for jobless aid dropped to a near four-month low last week, but contracts to buy previously owned homes fell in February to their lowest level since October 2011.

"Data has largely been in line. It's been incredibly uneven, and that is another reason why there is some hesitancy," said Peter Kenny, chief executive officer of Clearpool Group in New York.

Markets were also pressured by a steep drop in Citigroup Inc shares, which suffered their biggest daily decline since November 2012 after the Federal Reserve rejected the bank's capital plan. The S&P financial index lost 0.9 percent and was the worst-performing sector.

The benchmark S&P 500 Index managed to hold above the 1,840 level, which has acted as support recently, as the end of the quarter approached and money managers engaged in "window dressing," adjusting positions to improve the look of their portfolios.   Continuación...