US STOCKS-Wall St down as biotechs, financials drag

viernes 11 de abril de 2014 13:46 GYT
 

* JPMorgan falls, Wells Fargo gains after results

* Producer prices post largest increase in nine months

* UMich consumer sentiment index hits nine-month high

* Indexes down: Dow 0.7 pct, S&P 0.5 pct, Nasdaq 0.6 pct (Updates to afternoon session)

By Angela Moon

NEW YORK, April 11 (Reuters) - U.S. stocks fell in a volatile session on Friday as biotech shares resumed their downward trend and disappointing earnings from JPMorgan weighed on the financial sector.

JPMorgan Chase & Co shares fell 3.2 percent to $55.59 as the biggest drag on the S&P 500 after it reported a far weaker-than-expected quarterly profit as revenue from securities trading fell.

The S&P financial index lost 0.8 percent as the worst performing S&P sector.

Biotech and momentum stocks extended losses from the previous session's sharp selloff that sent the Nasdaq to its worst decline since Nov. 9, 2011 and the benchmark S&P index to its biggest fall since Feb 3.   Continuación...