Investors grew uneasy over the latest tumult surrounding the Trump administration. Fred Katayama reports.
Wall Street slipped Monday in a broad retreat. Some investors worried President Donald Trump's accusation that his predecessor had wiretapped him could delay the economic agenda. But ACSI Funds CEO Phil Bak said investors are more concerned about rising rates than Trump's tweets. SOUNDBITE: PHIL BAK, CEO ACSI FUNDS, (ENGLISH) SAYING: "We're going to start to see the market shift from a macro market back to a fundamental market. We're starting to see kind of a dissipation of sorts of these Trump tweets and of the Trump news. They still have an impact but that impact is declining with every tweet, and I think that'll continue." General Motors shares stalled. GM is selling its Opel unit to the owner of Peugeot, PSA Group, for $2.3 billion. Netflix among the day's top gainers on the S&P 500. UBS upgraded the video streaming company to "buy" from "neutral" based on its potential to exceed Wall Street's targets for subscriber growth. Tyson Foods shares dropping. The chicken meat producer says it's working with Tennessee and federal officials to contain the bird flu virus that was found in a chicken flock on a farm contracted to Tyson. The U.S. manufacturing sector gaining momentum. Factory goods orders rose for the second straight month in January. European stocks closed lower in a broad-based selloff. Weighing on them: Deutsche Bank and other financial stocks.