US STOCKS-Economic growth worries, oil slump drag Wall St lower

martes 5 de julio de 2016 16:31 GYT

* U.S. data adds to growth worries

* S&P energy, materials and financial sectors lower

* Indexes down: Dow 0.61 pct, S&P 0.68 pct, Nasdaq 0.82 pct (Updates to close)

By Marcus E. Howard

July 5 (Reuters) - Stocks fell on Wall Street Tuesday following their best weekly performance of the year as investors faced continued uncertainty in the wake of Britain's decision to leave the European Union and as tumbling oil prices weighed on energy shares.

U.S government bond yields reached record lows as investors found refuge in the perceived safety of Treasuries and uncertainty from Britain's vote to exit the EU, known as Brexit, fueled worries about a global economic slowdown.

Four of the top five decliners on the S&P 500 were bank stocks, with JPMorgan, down 2.8 percent t0 $59.55, weighing the most. The financial sector of the S&P was down 1.5 percent

"Brexit is a friction on economic activity and that's bad for banks," said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago.

"Low interest rates are horrible for financials, specifically for banks. The spread between where they borrow and where they lend is getting closer together."   Continuación...