Markets Fall Again on Surprise Swiss Monetary Move

The major U.S. stock benchmarks fell for the fifth consecutive day as oil prices resumed their slide and the Swiss central bank unexpectedly lifted a three-year cap Euro exchange rates put in place to keep the Franc from appreciating too much and damaging Switzerland’s export-driven economy. Adding to the volatility was a surprise rise in weekly jobless claims to a four-month high at 316,000 and a series of disappointing quarterly earnings reports from the financial sector including Bank of America and Citigroup.