US STOCKS-Wall Street cuts losses as bond prices gain

Mon Jun 24, 2013 3:11pm EDT
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* S&P 500 falls 5 percent over the past four sessions

* Energy, material shares plunge on uncertain growth outlook

* Tenet Health to buy Vanguard Health; Keynote to be bought

* Indexes off: Dow 0.5 pct, S&P 0.7 pct, Nasdaq 0.7 pct

By Alison Griswold

NEW YORK, June 24 (Reuters) - U.S. stocks shed some of the day's losses as bond markets stabilized on Monday, but Wall Street was still down on concerns about the Federal Reserve's plans to reduce its monetary stimulus and on overnight losses in Chinese equity markets.

Seven of the 10 S&P 500 sectors were down, led by losses in materials and financials, and more than three-quarters of the stocks traded on the New York Stock Exchange were lower.

Markets have been under pressure as investors cashed out of losing positions in the last several days since the Fed suggested it would cut back on monthly bond purchases before long.

Stocks fell immediately after the market's open and were down as much as 2 percent, extending losses from last week when the S&P 500 posted its worst weekly performance in two months.   Continued...