Bank stocks fell the most, as the interest rate cut suggests they won't be able to make as much money on lending. Oil prices rose for the second day in a row, something that hadn't happened in almost three weeks. Bond prices rose and the yield on the 10-year Treasury note fell to 1.50% from 1.54%. Britain's central bank hadn't cut interest rates since the financial crisis. Quincy Krosby, market strategist at Prudential Financial, said investors were playing it safe as they waited for the Labor Department's July employment report.

Source: Los Angeles Times August 04, 2016 14:08 UTC