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U.S. stocks extended losses as German Chancellor Angela Merkel canceled a speech to parliament on the European bailout fund because of disagreements on the role of the region’s central bank.
Dow 11,408.73 -95.89 -0.83%, Nasdaq 2,562.38 -41.66 -1.60%, S&P 500 1,198.66 -11.22 -0.93%
Bank of America Corp. (ВАС) and Morgan Stanley declined at least 3.1 percent, following a decline in European lenders. EBay Inc. slumped 6.7 percent after the online marketplace forecast sales and profit that missed some analysts’ estimates. PulteGroup Inc. and Lennar Corp. paced losses in homebuilders, dropping more than 3.8 percent as sales of existing homes declined. Philip Morris International Inc. added 3.6 percent to $68.38. The world’s largest publicly traded tobacco company reported third-quarter profit that topped analysts’ estimates, helped by higher shipments and increased cigarette prices in Asia.
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