Deals
U.S. Stocks Fall as Fed Statement Fails to Bolster Confidence
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U.S. stocks declined, reversing earlier gains, as the Federal Reserve’s pledge to provide additional support for the economy disappointed investors anticipating a more definitive sign of further monetary easing.
Knight Capital Corp., one of the largest market makers of U.S. stocks, plunged 33 percent as it experienced technology issues with trading. MasterCard Inc., the second-biggest payments network, slumped 2.2 percent as sales missed analysts’ estimates. Comcast Corp., the largest U.S. cable company, and Allstate Corp., the biggest publicly traded U.S. home and auto insurer, rose at least 3 percent as earnings topped projections.