(Bloomberg) -- U.S. stocks dropped after crude oil climbed and import prices rose the most in almost a year, reducing prospects the Federal Reserve will cut interest rates.
Citigroup Inc. and JPMorgan Chase & Co. led financial shares lower on concern the highest borrowing costs in six years will erode profits from lending. Homebuilders also declined. Shares of Whole Foods Market Inc. plunged to the lowest since October 2004 after net income trailed analysts' estimates.
Read more at Bloomberg Stocks News
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