Global shares start quarter on downbeat note; oil eases from highs
U.S. shares slipped on Monday on weakness in healthcare and consumer stocks, while a drop in European telecommunications shares kept stocks subdued in the region and oil prices eased from multi-month highs on doubts over the effectiveness of an OPEC deal to cut output.
Pfizer (PFE.N) dragged down the S&P 500 healthcare index .SPXHC, while the consumer staples sector .SPLRCS fell with losses in Procter & Gamble (PG.N) and PepsiCo (PEP.N) weighing.
"Consumer staples have done tremendously well this year," said Richard Sichel, chief investment officer at Philadelphia Trust... read more
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