US STOCKS-Wall St falls in broad weakness, Dow below 17,000

martes 8 de julio de 2014 15:22 GYT
 

* Dow back under 17,000 in broad market decline

* Alcoa to report after market close; revenue seen down

* Internet names among weakest of the day

* Dow off 0.7 pct; S&P 500 down 0.7 pct; Nasdaq off 1.5 pct (Updates to late afternoon, changes byline)

By Chuck Mikolajczak

NEW YORK, July 8 (Reuters) - U.S. stocks fell in a broad selloff on Tuesday, dropping for a second straight session as investors showed caution ahead of the start of earnings season.

The benchmark S&P 500 index, however, recovered from earlier lows and was hovering near its 14-day moving average. That would be a sign of weak near-term momentum if the S&P declined below that level by more than a slight amount. Nine of the 10 primary S&P 500 sector indexes were lower, with only defensive groups like utilities higher for the day.

About 60 percent of stocks trading on the New York Stock Exchange fell, and more than three-fourths of Nasdaq-listed names.

"All the bubble talk eventually gets to people, and with earnings facing us imminently, it's not a bad time to be a bit more cautious," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.   Continuación...