Feb. 9 (Bloomberg) -- Most U.S. stocks fell, snapping a two- day gain, as concern President Barack Obama’s stimulus package won’t be enough to pull the nation out of a recession outweighed a rally in financial and industrial shares. more ...
“There’s still nervousness about how the stimulus package is going to pan out,” said Donald Yacktman, who manages $800 million as chief investment officer of Yacktman Asset Management in Austin, Texas. “Banks aren’t lending and people aren’t borrowing.”
Benchmark indexes drifted between gains and losses for most of the day as an advance in financial shares offset declines in consumer companies. Stocks snapped four straight weeks of losses last week on speculation the deteriorating economy will force Congress to reach a compromise on Obama’s stimulus package.
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