Market Wrap: Stocks Drop on Interest Rate Concerns, Greece
Filed under: Market News, Mergers & Acquisitions, Economic Indicators, European Union, Interest Rates Richard Drew/AP By Caroline Valetkevitch NEW YORK — U.S. stocks fell Tuesday, pushing the S&P 500 to its biggest decline in three weeks, weighed down by concerns about Greece and some upbeat data that fueled expectations that a U.S. rate hike could come sooner rather than later. All 10 major S&P 500 sectors were lower, with a drop in oil prices weighing on energy shares and transportation stocks. The S&P energy index was down 1.6 percent, while the Dow Jones transportation average fell 1.6 percent and touched its lowest level since Oct. 23. The dollar was up 1.3 percent against a basket of major currencies as commodity prices fell. Boot.getJS({ src:’http://api.dailyfinance.com/
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