US STOCKS-Financial stocks drag Wall St ahead of Fed policy meet
* May retail sales rise 0.5 pct vs est. 0.3 pct
* German bond yields fall below zero
* Wells Fargo, JPMorgan top losers on S&P
* Indexes down: Dow 0.58 pct, S&P 0.6 pct, Nasdaq 0.6 pct (Adds details, comments, updates prices)
By Yashaswini Swamynathan
June 14 (Reuters) - Financial stocks weighed on Wall Street on Tuesday ahead of the Federal Reserve's policy meeting as traders see very slim chances of a rate hike in the near term.
The Federal Open Market Committee (FOMC) will commence its two-day meeting on Tuesday to decide whether the U.S. economy has recovered enough to be able to absorb an interest rate hike.
While traders have discounted a rate increase this month, they will parse Fed Chair Janet Yellen's speech at a conference on Wednesday for clues on the health of the economy and the trajectory of hikes.
Yellen, who had dropped hints last month of a rate hike in the near term, was more vague on the timing last week after a dismal May employment report set off fresh concerns of the strength of the economy. Continuación...