Goodyear Falls 7%

NEW YORK Goodyear Tire & Rubber Co. fell 7% on Friday, the largest drop on the S&P 500 Index, after J.P. Morgan analysts cautioned investors on the company because of "significantly weaker" demand for tire replacements. Demand for tire replacements in May fell 3% from the month before, below the average 8 percent growth rate in the past nine years, the analysts said. Low-end tire demand seemed to have softened the most. Akron, Ohio-based Goodyear also said that it agreed to sell its global wire business to South Korea's Hyosung Corp. for about $50 million Wednesday, a deal not expected to have led to a significant gain nor loss.