US STOCKS-Wall St declines as growth worries, oil weigh

martes 5 de julio de 2016 14:54 GYT
 

* U.S. data adds to growth worries

* S&P energy, materials and financial sectors lower

* Indexes down: Dow 0.73 pct, S&P 0.82 pct, Nasdaq 1.04 pct (Updates to late afternoon)

By Marcus E. Howard

July 5 (Reuters) - Wall Street stocks fell in afternoon trading on Tuesday as investors faced continued uncertainty in Europe and tumbling oil prices weighed on energy shares.

The Bank of England said the outlook for Britain's financial stability after its June 23 vote to leave the European Union, dubbed Brexit, was "challenging" and said it would lower the amount of capital that banks were required to hold in reserve in order to allow them to keep lending.

"After a surprisingly big bounce last week, I think we're in a little bit of a risk-off trading today - the uncomfortable feeling that maybe all is not fully well given Brexit," said Jeffrey Carbone, senior partner, Cornerstone Financial Partners, in Cornelius, North Carolina.

Seven of the 10 major S&P sectors were lower. The energy sector fell 2.4 percent. The materials index was down 2 percent.

The financial sector was down 1.9 percent with JPMorgan, Wells Fargo and Citigroup falling between 2.4 and 3.8 percent.   Continuación...