U.S. stocks fell for a second day, after benchmark indexes reached records Monday, as industrial and phone companies led a retreat before the government’s jobs report Friday.
Alcoa Inc. slid to its lowest level since December as industrial companies paced declines among nine of 10 groups in the Standard & Poor’s 500 Index. The health-care group was the benchmark’s only advancer as Tenet Healthcare Corp. and HCA Holdings Inc. climbed more than 5.8 percent. The Nasdaq Biotechnology Index rose to an intraday record.
The S&P 500 fell 0.4 percent to 2,098.53 at 4 p.m. in New York. It dropped 0.9 percent in the past two days for the biggest slide in five weeks. The Dow Jones Industrial Average lost 106.47 points, or 0.6 percent, to 18,096.90. The Nasdaq Composite Index fell 0.3 percent. About 6.4 billion shares traded hands, 8 percent below the three-month average.