US STOCKS-Wall St falls for 5th day on global economy, earnings concern

jueves 15 de enero de 2015 14:01 GYT

* Bank of America, Citi down after results

* Swiss National Bank moves to scrap 3-year euro cap on the franc

* Best Buy shares fall

* Indexes off: Dow 0.6 pct, S&P 0.7 pct, Nasdaq 1.1 pct (Updates to midday, changes byline)

By Caroline Valetkevitch

NEW YORK, Jan 15 (Reuters) - U.S. stocks fell in midday trading Thursday, putting them on track for a fifth day of losses as bank results disappointed and investors focused on concerns about the effect of global weakness on U.S. earnings.

The S&P financial sector, down 1.4 percent, led the day's decline. Bank of America lost 4.3 percent and was among the S&P 500's biggest drags after the second-largest U.S. bank by assets reported a 14 percent slump in quarterly profit. Citigroup shares fell 3.5 percent after its quarterly results.

Trading was likely to remain volatile through the session after the Swiss National Bank scrapped its cap on the franc.

Swiss stocks traded in the United States moved higher, Credit Suisse, up 0.7 percent at $22.98 and Novartis , up 1.9 percent to $98.61, as a strengthening Swiss franc made U.S.-dollar denominated stocks cheaper.   Continuación...