By Rita Nazareth – Jun 25, 2012 6:14 PM
U.S. stocks fell, after last week’s drop in the Standard & Poor’s 500 Index, on concern a European Union summit will fail to tame the region’s debt crisis.
Financial (S5FINL) and energy shares fell the most among 10 S&P 500 groups. Bank of America Corp. (BAC) and Chevron Corp. (CVX) slid more than 2.1 percent. Pfizer Inc. (PFE) andBristol-Myers Squibb Co. (BMY) dropped at least 1.4 percent as blood thinner Eliquis failed to win U.S. approval. Constellation Brands Inc. surged 13 percent as the world’s largest wine company may benefit from a potential deal between Grupo Modelo SAB and Anheuser-Busch InBev NV.