U.S. Stocks Drop, Led by Financials on Downgrade; GM Rallies, Lifting Dow

(Bloomberg) -- Bank and brokerage shares tumbled after JPMorgan said interest rates are unlikely to fall this year, sending most U.S. stocks lower and curtailing the Standard & Poor's 500 Index's six-week advance.

Citigroup Inc., the world's biggest bank, and Merrill Lynch & Co., the third-largest U.S. securities firm, led declines. Dell Inc. pushed down the Nasdaq Composite Index on a report the computer maker is too reliant on North American sales, while General Motors Corp., the world's biggest carmaker, carried the Dow Jones Industrial Average to its second straight gain after DaimlerChrysler AG sold its unprofitable U.S. unit.


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