U.S. stocks slipped on Thursday after banking stocks took a hit from declining rates. Disney dragged down Dow Jones industrial average after a profit warning.
The Dow fell 22.86 points to close at 21,784.78, while the S&P 500 dropped 0.02 percent to close at 2,465.10, with financials and telecommunications leading the decline in the benchmark. Telecommunications is now the worst-performing sector year to date.
The Nasdaq composite rose 0.07 percent to close at 6,397.87, with Microsoft, Amazon and Facebook all higher.
GE shares fell more than 3 percent after JPMorgan reaffirmed its underweight rating, saying earnings and business trends continue to deteriorate.
Bank of America, Citigroup and Goldman Sachs were all down more than 1 percent, dragging down the major indexes.
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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