U.S. Stocks Extend Steepest Decline in 5 Months on Concern M&A Will Slow

(Bloomberg) -- U.S. stocks extended their biggest
drop in five months on growing concern that takeovers will slow
as the money to pay for them grows scarcer.

Marsh & McLennan Cos., Wyndham Worldwide Corp. and
Dillard's Inc. led the Standard & Poor's 500 lower as investors
abandoned shares that rose on takeover speculation. Fannie Mae
fell the most since 2005 and led financial shares lower. Baker
Hughes Inc., the world's third-biggest oilfield contractor,
slid after reporting a decrease in earnings.


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