US STOCKS-Wall St falls modestly with Ukraine in focus

martes 12 de agosto de 2014 14:32 GYT
 

* Investors continue to watch geopolitical tensions

* Energy shares lead losses in S&P

* Kate Spade plunges 23 pct in busiest trading day

* Dow down 0.2 pct, S&P 500 down 0.3 percent, Nasdaq down 0.4 pct (Updates to afternoon trading, changes quote)

By Akane Otani

NEW YORK, Aug 12 (Reuters) - U.S. stocks fell modestly on Tuesday afternoon, with energy shares leading losses as investors monitored developments in Russia and Ukraine and the price of oil fell.

Losses were broad, and seven of the S&P 500's ten primary sectors were down in afternoon trading. Telecom services gained 0.5 percent, while on the tail end, energy and consumer discretionary shares dragged.

Traders rushed to sell shares of handbag and accessories retailer Kate Spade & Co, which plummeted 23.5 percent to $29.72 in its busiest day of trading ever. Better-than-expected sales had helped lift shares to a seven-year-high in early trading, but the stock reversed course after the company warned that gross margins would be weaker than expected for the year.

Russia sent a convoy of 280 trucks carrying humanitarian aid to eastern Ukraine on Tuesday. Western officials had been wary of the gesture, fearing Russia would use the guise of a humanitarian mission to invade Ukraine, but the Russian Foreign Ministry said it would hand off the convoy to the Red Cross after crossing the border.   Continuación...