U.S. stocks declined and the Standard & Poor’s 500 Index posted its steepest two-day slump since June after wholesale prices rose faster than economists estimated, housing starts decreased and concern grew that the nation’s biggest financial firms will report more losses.

The S&P 500 lost 11.91, or 0.9 percent, to 1,266.69. The Dow Jones Industrial Average declined 130.84, or 1.1 percent, to 11,348.55. The Nasdaq Composite Index slipped 32.62, or 1.4 percent, to 2,384.36.

(Bloomberg.com)