Banks Tumble
American banks tumbled after Deutsche Bank AG said its operating pretax profit forecast of 10 billion euros ($13.2 billion) from its core businesses for 2011 is no longer achievable. Citigroup dropped 5 percent to $21.96. Bank of America, which lost 9.6 percent yesterday and is down 59 percent for 2011, dropped 5.2 percent to $5.25 today.
Schlumberger Ltd., the world's largest oilfield-services provider, retreated 3.6 percent to $55.62, leading energy companies lower as oil tumbled to the lowest since September 2010. Chevron Corp. lost 2.7 percent to $87.42.
Caterpillar, the world's largest construction and mining- equipment maker, slipped 2.4 percent to $68.89. Dow Chemical fell 2.1 percent to $21.06.
Yahoo! Inc. gained 5.1 percent to $14.22. The private- equity firm Silver Lake, Alibaba Group Holding Ltd. and Russia's Digital Sky Technologies are discussing a possible joint bid for the most-visited U.S. Web portal, three people with direct knowledge of the matter said. Dana Lengkeek, a spokeswoman for Yahoo, declined to comment.