U.S. stocks marked a slip, blemishing the Dow Jones Industrial Average’s longest winning streak since 2004, following credit disturbances for Greece, Portugal and Spain triggered concern that global economic growth will become sluggish and prosecutors considered filing fraud accusations against Goldman Sachs Group Inc.
Banks slipped by a significant level from the Standard & Poor’s 500 Index this week, as the Justice Department scrutinized Goldman Sachs, which was reportedly faced law suit filed by securities regulators on April 16.
Goldman Sachs registered a plunge 7.8%, concluding its biggest monthly retreat, since Lehman Brothers Holdings Inc. filed for bankruptcy in 2008. Transocean Ltd. and Halliburton Co. slipped more than 12% as an oil spill in the Gulf of Mexico worsened.
“People are now questioning if maybe the worst is not over for Greece and Portugal,” quoted, Mark Bronzo, an Irvington, New York-based money manager at Security Global Investors, which oversees $21 billion. “The rationale is: The sovereign risk will weigh on Europe and the global economy. It’s another unknown for the stock market.”
Companies in the S&P 500 witnessed to grab a profit by 47% during the first quarter, uncovered analyst speculations compiled by Bloomberg.
The S&P 500 squeezed 2.5 percent to 1,186.69. The Dow fell by 195.67 points, or 1.8%, touching 11,008.61, marking its first weekly slip since February.












