(CNBC) U.S. stocks slipped on Thursday after banking stocks took a hit from declining rates. Disney dragged down Dow Jones industrial average after a profit warning.
The Dow fell 50 points, or 0.23 percent, while the S&P 500 dropped 0.09 percent, with financials and telecommunications leading the decline in the benchmark. The Nasdaq composite rose 0.03 percent with Microsoft, Amazon and Facebook all trading higher.
GE shares fell more than 3 percent after JPMorgan reaffirmed its underweight rating, saying earnings and business trends continue to deteriorate. Its shares have performed poorly this year, declining 21 percent through Wednesday versus the S&P 500’s 10 percent return. GE was the worst decliner in the Dow.
