The S&P 500 erased all year-to-date gains as stock losses deepened. A selloff in crude oil and continued worries over the Federal Reserve's rate hike plans kept stocks under pressure. Hyatt (H) fell after Bank of America downgraded its stock to NEUTRAL from BUY. Analysts said the hotels sector was under pressure from home-sharing startups such as Airbnb. Hilton Worldwide (HLT) was also downgraded. Teen retailer American Eagle Outfitters (AEO) reported a better-than-expected first quarter as digital traffic drove a seven percent sales increase. Its namesake brand, which generates the most sales, saw a four percent increase in comparable store sales. Urban Outfitters (URBN) also bucked the downward trend in retail, reporting a three percent increase in quarterly sales.
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