US STOCKS-Wall St edges lower on Portugal bank worry

jueves 10 de julio de 2014 14:39 GYT
 

* Portuguese, Italian markets slide, weigh on Europe

* Utilities, telecoms up; 10-yr yield hits lowest since June 2

* Lumber Liquidators tumbles after revised outlook

* Dow off 0.3 pct; S&P off 0.3 pct; Nasdaq off 0.2 pct (Updates to afternoon session)

By Angela Moon

NEW YORK, July 10 (Reuters) - U.S. stocks edged lower on Thursday as concerns about the financial health of Portugal's top listed bank gave investors a reason to cash in recent gains.

With the Dow and the S&P 500 near record highs, the slide in Europe triggered by financial shares quickly translated into broad selling on Wall Street. The S&P 500 briefly lost 1 percent earlier, a daily drop the benchmark has not seen since April 10.

Among the day's biggest decliners was Lumber Liquidators which plunged 20.3 percent to $56.15 after the hardwood flooring retailer cut its earnings outlook. The stock fell as low as $54.32, its lowest level since February 2013.

Sandwich chain Potbelly Corp estimated second-quarter revenue and profit below analysts' expectations and its stock plummeted 24.6 percent to $11.05, just above an all-time low of $10.95.   Continuación...