Wall St. dips after data; Citi leads financials lower


Chuck Mikolajczak
Reuters
March 27, 2014

U.S. stocks slipped on Thursday as some positive economic data failed to counter lingering geopolitical concerns, although losses were limited as the end of the quarter approached.

The U.S. economy grew a bit faster than previously estimated in the fourth quarter and new claims for jobless aid dropped to a near four-month low last week, but contracts to buy previously owned homes fell in February to their lowest level since October 2011.

“Data has largely been in line. It’s been incredibly uneven, and that is another reason why there is some hesitancy,” said Peter Kenny, chief executive officer of Clearpool Group in New York.

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