US STOCKS-Wall St falls as investors fret about big banks

lunes 3 de octubre de 2016 14:57 GYT

* Purchasing Managers Index expands to 51.3 vs est. 50.3

* Utilities top loser among S&P 500 sectors

* Indexes down: Dow 0.32 pct, S&P 0.39 pct, Nasdaq 0.32 pct (Updates to afternoon)

By Noel Randewich

Oct 3 (Reuters) - The fourth quarter got off to a weak start for U.S. stock investors on Monday, with banks and utilities pulling the S&P 500 lower.

Major indexes have bounced between gains and losses in the past few days, with investors nervous about the outcome of a tight race for the White House ahead of the Nov. 8 election.

Major banks extended recent declines as investors worried about the stability of Deutsche Bank and also Wells Fargo & Co's handling of sales abuses.

U.S-listed shares of Deutsche lost 2.3 percent as hopes faded of a swift deal with U.S. authorities over a multi-billion dollar penalty for mis-selling mortgage-backed securities.

"The feeling is there will be a negotiation lowering that penalty but it's certainly a bit of an overhang on the overall market," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.   Continuación...