Weak earnings tug stocks lower on Wall Street

August 8, 2013 • Business, National News

FILE – In this Wednesday, July 31, 2013, file photo, Specialist Fabian Caceres, background right, works with traders on the floor of the New York Stock Exchange. World stock markets fell Wednesday, Aug. 7, 2013 led by a plunge in Japan’s benchmark index, as expectations mounted that the U.S. central bank will begin to phase out its monetary stimulus next month. (AP Photo/Richard Drew, file)

NEW YORK (AP) — Disappointing earnings news and a slump in bank stocks tugged the stock market down Wednesday, giving major indexes their first three-day drop since June.

Banks had some of the biggest losses following news that the government filed lawsuits accusing Bank of America of misleading investors.

The Standard & Poor’s 500 index fell 6.46 points, or 0.4 percent, to close at 1,690.91. Seven of the index’s 10 industry Login to read more

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