Wall Street starts 2014 with drop
NEW YORK — U.S. stocks fell on the first day of trading in 2014 as investors booked profits in the wake of the S&P 500’s best yearly advance since 1997, with many of last year’s strongest performers down on the day.
All 10 S&P 500 sectors were lower, with tech among the biggest drags after Wells Fargo downgraded Apple Inc. to “market perform” from “outperform,” saying the company’s market cap had limited upside potential without material market share gains.
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