US STOCKS-Dow, S&P slip from recent records; World Bank cuts forecast

miércoles 11 de junio de 2014 15:23 GYT
 

* Cantor's primary loss seen as reason for caution

* Bank of America shares biggest drag on S&P 500

* World Bank cuts global 2014 outlook

* Dow down 0.6 pct; S&P 500 down 0.4 pct; Nasdaq off 0.3 pct (Updates to late afternoon, changes byline)

By Caroline Valetkevitch

NEW YORK, June 11 (Reuters) - U.S. stocks dropped on Wednesday, with the Dow and S&P 500 pulling back from recent record highs, following the World Bank's reduction of its global growth forecast.

Losses were broad with every sector except energy down for the day. The S&P 500 was on track for its biggest daily percentage loss since May 20.

Recent sessions have been marked by low volume and low volatility, leaving indexes to trade in a narrow range while still hitting records. The Dow ended at a fourth straight record high on Tuesday, while the S&P 500 finished lower after four days of record closing highs.

"It doesn't surprise me to see the markets cool off. It feels like we're in the middle of the summer where we have a complacent market with a lot of people on vacation," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon.   Continuación...