Stocks Fall After Dip Buying Wanes: Markets Wrap
- FedEx falls in postmarket trading after firm cuts forecast
- Iron ore rout eases; Ten-year Treasury notes are steady
U.S. stocks fell in the final minutes of trading a day after registering the biggest slide in four months as traders assessed risks from China’s crackdown on the real-estate sector and this week’s Federal Reserve meeting.
The S&P 500 had whipsawed investors through the session after opening broadly higher, which had initially suggested some improvement in sentiment after concerns about fallout from China Evergrande Group’s debt woes roiled global markets Monday. The industrial, communication services and utilities sectored weighed on the benchmark index. Disney slumped the most since May after the company forecast slower subscriber growth. Futures extended declines in after-hour trading as economic bellwether FedEx Corp. cut its full-year earnings forecast.