US STOCKS-S&P slips from record on China concern; Boeing weighs

lunes 10 de marzo de 2014 13:58 GYT
 

* China trade balance unexpectedly swings into deficit

* Boeing finds cracks in wings of Dreamliners in production

* Facebook shares hit another record after UBS raises target

* Indexes off: Dow 0.5 pct, S&P 0.3 pct, Nasdaq 0.4 pct

By Rodrigo Campos

NEW YORK, March 10 (Reuters) - U.S. stocks fell on Monday weighed by soft data out of China, lingering concerns over Russia's claim over part of Ukraine and Boeing's latest production setback.

Merger and acquisition announcements, as well as company-specific news including on Facebook and Alexion Pharma, helped stem losses.

China's exports unexpectedly tumbled 18.1 percent in February, against expectations for a 6.8 percent rise, swinging the trade balance into deficit and adding to fears of a slowdown in the world's second-largest economy.

"There's reasons to be a little cautious on the market. There's a little bit of profit-taking," said Paul Zemsky, head of asset allocation at ING Investment Management in New York.   Continuación...