Economics
S&P 500 Falls After Rising to the Highest Since June 2008
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The Standard & Poor’s 500 Index fell, snapping a five-day advance, after the benchmark gauge for U.S. equities rallied to the highest level since June 2008.
A gauge of financial shares in the S&P 500 swung between gains and losses following the Federal Reserve’s stress test results. Citigroup Inc. and MetLife Inc. lost more than 3.3 percent. Bank of America Corp. and Zions Bancorporation rose at least 4.1 percent. The Dow Jones Transportation Average fell 1.4 percent as the Fed’s better economic assessment caused investors to reduce bets on more monetary easing. Apple Inc. added 3.8 percent as Morgan Stanley raised its share-price estimate.