File - A man is silhouetted against a video screen with the Blackberry logo as he pose with a Blackberry Q10 in this file photo illustration taken in the central Bosnian town of Zenica, September 21, 2013. REUTERS/Dado Ruvic
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U.S. stocks fell for a fifth straight day as banks and Best Buy Co. slid amid corporate earnings and Apple Inc. paced a decline in technology shares.Bank of America Corp. and Citigroup Inc. fell at least 3.5 percent as both banks reported a drop in fourth-quarter profit as revenue from fixed-income trading declined. Best Buy tumbled 13 percent as the largest electronics retailer warned that price pressure and sluggish demand may hamper results in the coming year. Nasdaq 100 Index retreated 0.8 percent as Apple declined 2.3 percent. Trading in S&P 500 companies was 32 percent above the 30-day average for this time of the day.The benchmark gauge is down 3.1 percent over the past five days.Profit at companies in the index climbed 2 percent in the last three months of 2014, analysts estimate.Bank of America slipped 3.9 percent and Citigroup dropped 3.5 percent as both banks reported a drop in fourth-quarter profit as revenue from fixed-income trading declined.
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