S&P 500 Falls Most Since November as Minutes Show Debate
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U.S. stocks fell from five-year highs, giving the Standard & Poor’s 500 Index its biggest decline since November, as minutes from the Federal Reserve’s last meeting showed a debate over further stimulus action.
Apple Inc. fell 2.4 percent after Foxconn Technology Group, the biggest assembler of Apple products, froze hiring across China. Toll Brothers Inc., the largest U.S. luxury-home builder, lost 9.1 percent as it reported earnings that missed estimates. Caterpillar Inc. slid 2.5 percent after saying global retail machine sales dropped. OfficeMax Inc. dropped 7 percent after agreeing to be bought by Office Depot Inc. for $1.17 billion.