Beyoncé & Blue Ivy Made Readers Smile

By Andrea Billups

02/23/2013 at 01:35 PM EST

What's on the minds of PEOPLE readers this week? We love getting your feedback, and as always, you weighed in with plenty of strong reactions.

From your love of a new photos of Beyoncé's growing daughter Blue Ivy to your sadness over the suicide of country star Mindy McCready, readers responded to what made them mad, sad and also what kept them laughing out loud.

Check out the articles with the top reactions on the site this week, and keep clicking on the emoticons at the bottom of every story to tell us what you think!

There is no doubt the baby Blue Ivy is a Daddy's girl as new snaps of the child and her mother Beyoncé revealed this week. While her famous parents have kept her out of the spotlight, a photo of Blue Ivy, now 1, was apparently leaked from Beyoncé's HBO documentary, showing mom and daughter sharing the same photogenic smile.

Meanwhile, seeing Taylor Swift in a very Beyoncé-esque costume at the Brit Awards drew some amusement from readers who wondered if Sasha Fierce now has a pop-country cousin.

Chaz Bono has quickly followed through on his goal to lose significant weight, and readers were wowed by inspirational photos that saw him significantly trimmer and 43 pounds lighter. "I've been sticking to a really strict diet," he tells PEOPLE. "It's not any type of starvation thing. I'm just cutting out a lot of stuff and eating primarily protein and vegetables and fruit."

Readers told us they were angered by Kim Kardashian's maternity style as she continues her habit of wearing tight-fitting fashion, even as her pregnancy has moved into its second trimester. Mom-to-be Kardashian, 32, defended her hourglass shape and its limitations with clothes. "I think because I have big boobs it could make me look heavier if I don't, like, show off my waist or something," she told Du Jour magazine.

Country singer Mindy McCready's tragic suicide at 37 saddened readers. After years of dealing with addiction and legal problems, McCready killed herself at her Arkansas home, leaving behind son Zander, 6, with her ex Billy McKnight, and son Zayne, just 10 months.

Check back next week for another must-read roundup, and see what readers are reacting to every day here.

Taylor Swift at the Brit Awards (right) and Beyoncé at the Super Bowl

Getty; PictureGroup

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FDA approves new targeted breast cancer drug

WASHINGTON (AP) — The Food and Drug Administration has approved a first-of-a-kind breast cancer medication that targets tumor cells while sparing healthy ones.

The drug Kadcyla from Roche combines the established drug Herceptin with a powerful chemotherapy drug and a third chemical linking the medicines together. The chemical keeps the cocktail intact until it binds to a cancer cell, delivering a potent dose of anti-tumor poison.

Cancer researchers say the drug is an important step forward because it delivers more medication while reducing the unpleasant side effects of chemotherapy.

"This antibody goes seeking out the tumor cells, gets internalized and then explodes them from within. So it's very kind and gentle on the patients — there's no hair loss, no nausea, no vomiting," said Dr. Melody Cobleigh of Rush University Medical Center. "It's a revolutionary way of treating cancer."

Cobleigh helped conduct the key studies of the drug at the Chicago facility.

The FDA approved the new treatment for about 20 percent of breast cancer patients with a form of the disease that is typically more aggressive and less responsive to hormone therapy. These patients have tumors that overproduce a protein known as HER-2. Breast cancer is the second most deadly form of cancer in U.S. women, and is expected to kill more than 39,000 Americans this year, according to the National Cancer Institute.

The approval will help Roche's Genentech unit build on the blockbuster success of Herceptin, which has long dominated the breast cancer marketplace. The drug had sales of roughly $6 billion last year.

Genentech said Friday that Kadcyla will cost $9,800 per month, compared to $4,500 per month for regular Herceptin. The company estimates a full course of Kadcyla, about nine months of medicine, will cost $94,000.

FDA scientists said they approved the drug based on company studies showing Kadcyla delayed the progression of breast cancer by several months. Researchers reported last year that patients treated with the drug lived 9.6 months before death or the spread of their disease, compared with a little more than six months for patients treated with two other standard drugs, Tykerb and Xeloda.

Overall, patients taking Kadcyla lived about 2.6 years, compared with 2 years for patients taking the other drugs.

FDA specifically approved the drug for patients with advanced breast cancer who have already been treated with Herceptin and taxane, a widely used chemotherapy drug. Doctors are not required to follow FDA prescribing guidelines, and cancer researchers say the drug could have great potential in patients with earlier forms of breast cancer

Kadcyla will carry a boxed warning, the most severe type, alerting doctors and patients that the drug can cause liver toxicity, heart problems and potentially death. The drug can also cause severe birth defects and should not be used by pregnant women.

Kadcyla was developed by South San Francisco-based Genentech using drug-binding technology licensed from Waltham, Mass.-based ImmunoGen. The company developed the chemical that keeps the drug cocktail together and is scheduled to receive a $10.5 million payment from Genentech on the FDA decision. The company will also receive additional royalties on the drug's sales.

Shares of ImmunoGen Inc. rose 2 cents to $14.32 in afternoon trading. The stock has ttraded in a 52-wek range of $10.85 to $18.10.

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Torrential Rains Flood Athens and Strand Motorists

ATHENS — Torrential rain of an intensity not seen in decades flooded roads in Athens on Friday, overturning parked cars and stranding dozens of motorists, including a 28-year-old woman who died of what appeared to be a heart attack.

More than six hours of solid rainfall starting at 5 a.m. flooded the streets of the capital, caused two rivers to break their banks and paralyzed public transport, causing traffic chaos as tens of thousands of Athenians sought to reach their offices during the morning rush hour. Two electricity substations were deluged, prompting power cuts, and the fire service was besieged with more than 800 calls from residents with flooded homes and 100 from motorists stuck in floodwaters.

The amount of rain that fell was equal to the average rainfall for the whole month of February, meteorologists said.

A woman found slumped over the wheel of her car in the northern Athens suburb of Halandri died of natural causes, according to doctors at the hospital to which she was taken by rescue workers. Greek news media reported that the woman had died of a heart attack prompted by shock. A few blocks away, residents rescued another woman from her stranded car as muddy floodwaters gushed by, overturning several parked vehicles on the same road.

The rainfall also led to a freak accident at the Parliament building, where a cleaner working on the roof after the rain had stopped stepped through a glass ceiling as she tried to mop up water dripping into the main assembly hall, where lawmakers were to gather for a debate. The woman, who had been wearing a harness, according to parliamentary officials, was left dangling several yards above the deputies’ benches for a few minutes, until a police officer came to her aid.

In another unusual incident, a derelict building in the run-down central district of Aghios Panteleimonas collapsed, apparently because of the force of the sustained downpour. No one was injured after the collapse in the busy neighborhood, one of the poorest and most densely populated in the city center.

Although heavy rain is not unusual during Greece’s brief winter season, an antiquated drainage system in the capital means that streets often remain waterlogged for hours after storms. The scale of Friday’s downpour was unusual, however, with meteorologists referring to the heaviest rainfall in 50 to 60 years in comments on state television.

The Greek government, which is struggling to keep the debt-racked country afloat with billions of euros in rescue loans from foreign creditors, was not able to provide an assessment of the cost of the damage caused to homes, businesses, cars and roads.

 

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Josh Duhamel: Seeing Fergie's Ultrasound Makes Pregnancy Real

Mom & Babies
Celebrity Baby Blog

02/22/2013 at 11:00 AM ET

Stefanie Keenan/Wireimage

Josh Duhamel is ready for fatherhood, but says seeing wife Fergie‘s ultrasound makes the precious expectation of having his own child ever so real.

“It’s very exciting. Seeing that ultrasound is unlike anything you’ve ever seen. You’re like, ‘Wow, it’s mine,’” the actor tells Yahoo! omg! during a press junket for his new film Safe Haven.

The couple, who married in January 2009, announced their happy news via simultaneous Tweets on Monday.

Duhamel, 40, plays a father in his new film, but says time spent with family and friends’ children have opened his eyes to the joys of parenting — even though he knows he has a learning curve ahead.

“I think that I’ve always had an affinity for kids. There’s something about me and kids that just clicks,” explains Duhamel, who is anticipating learning the daddy ropes on the job once the Black Eyed Peas frontwoman delivers their baby.

“I don’t know if it’s because I am a kid, but it does prepare you whenever you’re around them,” he adds. ”I’ve got nieces and nephews and all my friends have kids. All that stuff is a learning experience for when it actually happens, but I don’t think you’re ever truly prepared until it’s your own.”

– Andrea Billups

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FDA approves new targeted breast cancer drug

WASHINGTON (AP) — The Food and Drug Administration has approved a first-of-a-kind breast cancer medication that targets tumor cells while sparing healthy ones.

The drug Kadcyla from Roche combines the established drug Herceptin with a powerful chemotherapy drug and a third chemical linking the medicines together. The chemical keeps the cocktail intact until it binds to a cancer cell, delivering a potent dose of anti-tumor poison.

Cancer researchers say the drug is an important step forward because it delivers more medication while reducing the unpleasant side effects of chemotherapy.

"This antibody goes seeking out the tumor cells, gets internalized and then explodes them from within. So it's very kind and gentle on the patients — there's no hair loss, no nausea, no vomiting," said Dr. Melody Cobleigh of Rush University Medical Center. "It's a revolutionary way of treating cancer."

Cobleigh helped conduct the key studies of the drug at the Chicago facility.

The FDA approved the new treatment for about 20 percent of breast cancer patients with a form of the disease that is typically more aggressive and less responsive to hormone therapy. These patients have tumors that overproduce a protein known as HER-2. Breast cancer is the second most deadly form of cancer in U.S. women, and is expected to kill more than 39,000 Americans this year, according to the National Cancer Institute.

The approval will help Roche's Genentech unit build on the blockbuster success of Herceptin, which has long dominated the breast cancer marketplace. The drug had sales of roughly $6 billion last year.

Genentech said Friday that Kadcyla will cost $9,800 per month, compared to $4,500 per month for regular Herceptin. The company estimates a full course of Kadcyla, about nine months of medicine, will cost $94,000.

FDA scientists said they approved the drug based on company studies showing Kadcyla delayed the progression of breast cancer by several months. Researchers reported last year that patients treated with the drug lived 9.6 months before death or the spread of their disease, compared with a little more than six months for patients treated with two other standard drugs, Tykerb and Xeloda.

Overall, patients taking Kadcyla lived about 2.6 years, compared with 2 years for patients taking the other drugs.

FDA specifically approved the drug for patients with advanced breast cancer who have already been treated with Herceptin and taxane, a widely used chemotherapy drug.

Kadcyla will carry a boxed warning, the most severe type, alerting doctors and patients that the drug can cause liver toxicity, heart problems and potentially death. The drug can also cause severe birth defects and should not be used by pregnant women.

Kadcyla was co-developed by South San Francisco-based Genentech and ImmunoGen Inc., of Waltham, Mass. ImmunoGen developed the technology that binds the drug ingredients together and is scheduled to receive a $10.5 million payment from Genentech on the FDA decision. The company will also receive additional royalties on the drug's sales.

Shares of ImmunoGen Inc. slipped 8 cents to $14.22 in afternoon trading. They have traded in a 52-wek range of $10.85 to $18.10.

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HP lifts Wall Street, S&P on pace for first weekly loss of year

NEW YORK (Reuters) - Stocks rose on Friday, rebounding off two days of losses as Dow component Hewlett-Packard surged on strong results, but the S&P 500 was on track to end a seven-week-long streak of gains.

The S&P shed 1.9 percent over the previous two sessions, its worst two-day drop since early November, putting the index on pace for its first weekly decline of the year. The retreat was triggered when the Federal Reserve's meeting minutes for January suggested stimulus measures may be halted sooner than thought.

Still, the index is up nearly 6 percent for the year and held the 1,500 support level despite the recent declines, a sign of a positive bias in the market.

"The market is addicted to Fed stimulus and gets withdrawal shakes every time that's threatened, but now we're resuming our course and remain much more attractively valued than other asset classes," said Rex Macey, chief investment officer at Wilmington Trust in Atlanta, Georgia.

Hewlett-Packard Co jumped 9.6 percent to $18.74 as the top boost on both the Dow and S&P 500 after the PC maker's quarterly revenue and forecasts beat expectations. The company cut costs under Chief Executive Meg Whitman's turnaround plan. The S&P technology sector <.splrct> was up 0.8 percent.

The Dow Jones industrial average <.dji> was up 69.41 points, or 0.50 percent, at 13,950.03. The Standard & Poor's 500 Index <.spx> was up 7.74 points, or 0.52 percent, at 1,510.16. The Nasdaq Composite Index <.ixic> was up 18.26 points, or 0.58 percent, at 3,149.75.

For the week, the Dow is off 0.2 percent in its third straight week of slight losses, the S&P is off 0.6 percent and the Nasdaq is off 1.3 percent.

Also buoying tech stocks were gains in semiconductor companies after Marvell Technology Group Ltd forecast results this quarter that were largely above analysts' expectations. Marvell gained market share in the hard-disk drive and flash-storage businesses. The stock rose 2.5 percent to $9.71.

In addition, Texas Instruments Inc raised its dividend by a third and boosted its stock buyback program, lifting shares 5.1 percent to $34.16 while the PHLX semiconductor index <.sox> gained 1.8 percent.

"Dividends growing are another way the market's level is justified, if not especially attractive at these levels," said Macey, who manages about $20 billion in assets.

On the downside, Abercrombie & Fitch dropped 7.6 percent to $45.34 after the clothing retailer reported a drop in fourth-quarter comparable sales, even as its latest quarterly earnings topped estimates.

Insurer American International Group Inc posted fourth-quarter results that beat analysts' expectations. Shares advanced 3 percent to $38.43.

According to Thomson Reuters data through Friday morning, of 439 companies in the S&P 500 that have reported results, 70 percent have exceeded analysts' expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters.

Fourth-quarter earnings for S&P 500 companies are estimated to have risen 6 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.

(Editing by Kenneth Barry)

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Deadly Bombings Hit Southern India City

Mahesh Kumar A/Associated Press

A member of the bomb squad with a sniffer dog arrived at a blast site in Hyderabad on Thursday.

NEW DELHI — Two bombs planted on bicycles killed at least 11 people and wounded 50 in a busy shopping district in the southern India city of Hyderabad at the height of rush hour Thursday night in what officials said may have been a coordinated attack.

Sushil Kumar Shinde, India’s home affairs minister, told journalists in New Delhi that the bicycles had been 150 meters away from each other at the time of the explosions in the Dilsukh Nagar neighborhood, which happened about 10 minutes apart, killing eight at one site and three at the other. The neighborhood is packed with shops, restaurants, theaters and a huge produce market.

Mr. Shinde said the central government had warned state governments that such an attack was planned. “We have had some information for the last two days of such an incident,” he said.

“At this stage it is difficult to say more,” he said. He warned that the death toll may go up.

“This is a dastardly attack, the guilty will not go unpunished,” Prime Minister Manmohan Singh said in a Twitter message.

Hyderabad, one of India’s largest cities and capital of Andhra Pradesh state, is a leading center of the country’s burgeoning pharmaceutical and biotechnology industries.

The blast sites, one near a theater, were soon mobbed by protesters, politicians, reporters and the curious. Television news footage in the hours afterward showed chaotic scenes with some investigators trying to find the remains of explosive devices while huge numbers of people jostled for space around them.

The presence of government officials, who come with enormous entourages and their own police squads, was portrayed by NDTV-News as particularly unhelpful.

“We’ve seen political leaders come into the area and hold press conferences,” the anchor on NDTV said. “That’s the last thing they should be doing.”

Kiran Kumar Reddy, the chief minister of Andhra Pradesh, held a news conference away from the scene late Thursday night and asked people to stay away from the blast areas. Renuka Chowdhury, a leader of the Indian National Congress Party, pleaded with other politicians to stay away as well.

“I really wish politicians would recognize this,” Ms. Chowdhury said.

The money and resources spent on protecting bureaucrats and politicians has become a source of increasing controversy in India, especially in the wake of a highly publicized gang-rape case in December in New Delhi. But Indian politicians, like those elsewhere, often compete with each other to show who is tougher on acts of terrorism and other crimes.

Hyderabad has been the site of frequent bombings in recent years, particularly those using home-made explosives.

In May 2007, 13 people died after a bomb went off at the Mecca Masjid, including some who were killed in clashes between the police and Muslim protesters afterward. In August 2007, a pair of synchronized explosions tore through two popular gathering spots in Hyderabad, killing at least 42 and wounding dozens. Police found and defused 19 more bombs in the hours after the blasts, left at bus stops, theaters, pedestrian bridges and intersections.

In the immediate aftermath of such attacks, a common worry is that one religious community will blame another and attack them. Such sectarian-inspired riots have long plagued India.

Asked in a news conference if he believed that Muslim extremists were to blame for the bicycle blasts, Mr. Shinde said:

“We have to investigate. We should not come to conclusion immediately.”

The country’s prime minister sought to allay anger over the blasts.

“I appeal to the public to remain calm and maintain peace,” he said.

Asaduddin Owaisi, a Muslim member of Parliament from Hyderabad, called the blasts “a cowardly dastardly act.”

“I feel that the priority is to maintain peace,” he said. “Let us not fall pray to rumors.”

Hari Kumar contributed reporting.

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Scott and Lauren Sterling Adopt Five Peruvian Siblings

Heroes Among Us

By Ken Lee

02/21/2013 at 01:45 PM EST

Left to right: Gershon, 15; Joel, 11; Lauren, 30; Scott, 43; Sibila, 9; Yhonson, 17; Betsi, 12; Laney, 3; and Logan, 19

Courtesy The Sterling Family

Two years ago, Scott and Lauren Sterling were sitting in their Blue Springs, Mo., home when an email landed in their inbox with an eye-catching subject line: "Hi, we need a daddy and mommy."

That email, sent a world away from a small orphanage in Pacasmayo, Peru – and written by a fellow member of the couple's church where Scott, 43, is an associate pastor – introduced them to five siblings, then ages 7 to 15, who had lost both parents to tuberculosis about eight years ago. Because the children refused to be split up, the kids' chances of finding new parents were slim.

"Our first thought was, someone rich ought to adopt these beautiful kids," says Lauren, 30, a job recruiter who was already a mom to daughter Laney, now 3, and stepmom to Logan, 19, Scott's daughter from a previous marriage. "But over the next few months, we realized, why not us?"

The Sterlings began a year-long process to legally adopt the five siblings, which involved Skype chats with the kids, reams of paperwork, and $20,000 raised by the Sterlings' church to help with adoption fees. "It's very unusual to find a family willing to take in so many siblings," says Pat Baldwin, director of international programs at Villa Hope, which oversaw the adoption. "What the Sterlings have done is a true act of love.

In Nov. 2012, the Sterlings flew down to the orphanage to meet Yhonson, now 17, Gerson, 15, Betsi, 12, Joel, 11, and Sibila, 9, in person for the first time and to bring them back to the States.

"The girls came running to us from a distance and jumped into Scott's arms," recalls Lauren. Adds Yhonson, who speaks limited English: "We were so happy. It was very emotional. We waited so long to be together."

The new family returned to Missouri just a few days after Christmas and were greeted by friends and neighbors who had stocked the Sterlings' kitchen with food, repainted their bedrooms, and set up a Christmas tree loaded with presents for the kids.

"Our home is now a mixture of Spanish, English and Spanglish thrown in and we use Google Translate a lot," says Lauren. "People say these kids are lucky to have us, but we're the ones who're lucky to have them."

Know a hero? Send suggestions to heroesamongus@peoplemag.com. For more inspiring stories, read the latest issue of PEOPLE magazine

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Flu shot did poor job against worst bug in seniors

ATLANTA (AP) — For those 65 and older, this season's flu shot is only 9 percent effective against the most common and dangerous flu bug, according to a startling new government report.

Flu vaccine tends to protect younger people better than older ones and never works as well as other kinds of vaccines. But experts say the preliminary results for seniors are disappointing and highlight the need for a better vaccine.

For all age groups, the vaccine's effectiveness is moderate at 56 percent, which is nearly as well as other flu seasons, the Centers for Disease Control and Prevention said Thursday.

For those 65 and older, it is 27 percent effective against the three strains in the vaccine, the lowest in about a decade but not far below from what's expected. But the vaccine did a particularly poor job of protecting older people against the harshest flu strain, which is causing most of the illnesses this year. CDC officials say it's not clear why.

Vaccinations are now recommended for anyone over 6 months, and health officials stress that some vaccine protection is better than none at all. While it's likely that older people who were vaccinated are still getting sick, many of them may be getting less severe symptoms.

"Year in and year out, the vaccine is the best protection we have," said CDC flu expert Dr. Joseph Bresee.

To be sure, the preliminary data for seniors is less than definitive. It is based on fewer than 300 people scattered among five states.

But it will no doubt surprise many people that the effectiveness is that low, said Michael Osterholm, a University of Minnesota infectious disease expert who has tried to draw attention to the need for a more effective flu vaccine.

Among infectious diseases, flu is considered one of the nation's leading killers. On average, about 24,000 Americans die each flu season, according to the CDC.

This flu season started in early December, a month earlier than usual, and peaked by the end of year. Older people are most vulnerable to flu and its complications, and the nation has seen some of the highest hospitalization rates for people 65 and older in a decade.

Flu viruses tend to mutate more quickly than others, and it's not unusual for multiple strains to be spreading at the same time. A new vaccine is formulated each year targeting the three strains expected to be the major threats. But that involves guesswork.

Because of these challenges, scientists tend to set a lower bar for flu vaccine. While childhood vaccines against diseases like measles are expected to be 90 or 95 percent effective, a flu vaccine that's 60 to 70 percent effective in the U.S. is considered pretty good.

By that standard, this year's vaccine is OK. The 56 percent effectiveness figure means people have a 56 percent lower chance of winding up at the doctor for treatment of flu symptoms.

For seniors, a flu vaccine is considered pretty good if it's in the 30 to 40 percent range, said Dr. Arnold Monto, a University of Michigan flu expert.

Older people have weaker immune systems that don't respond as well to flu shots. That's why a high-dose version was recently made available for those 65 and older. The new study was too small to show whether that made a difference this year.

The CDC estimates are based on about 2,700 people who got sick in December and January. The researchers traced back to see who had gotten flu shots and who hadn't. An earlier study put the vaccine's overall effectiveness slightly higher, at 62 percent.

The CDC's Bresee said there's a danger in providing preliminary results because it may result in people doubting — or skipping — flu shots. But the data was released to warn older people who got shots that they may still get sick and shouldn't ignore any serious flu-like symptoms, he said.

The new data highlights an evolution in how experts are evaluating flu vaccine effectiveness. For years, it was believed that if the viruses in the vaccine matched the ones spreading around the country, then the vaccine would be effective. This year's shot was a good match to the bugs going around this winter, including the harsher H3N2 that tends to make people sicker.

But the season proved to be a moderately severe one, with many illnesses occurring in people who'd been vaccinated.

____

Online:

CDC report: http://www.cdc.gov/mmwr

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Wall Street drops again, data raises growth concerns

NEW YORK (Reuters) - U.S. stocks fell on Thursday and were on track for their biggest two-day decline since November as weak data suggested expectations for economic growth were overly optimistic.

The two-day decline marked the U.S. stock market's first sustained pullback this year. The Standard & Poor's 500 is up 5.2 percent so far this year. The benchmark index has climbed for seven straight weeks, putting it near five-year highs.

In the latest economic data, initial claims for unemployment benefits rose more than expected last week while the Federal Reserve Bank of Philadelphia said its index of business conditions in the U.S. mid-Atlantic region fell in February to minus 12.5, the lowest in eight months.

"The Philly Fed report was troublingly weak, and adds to concerns about whether growth will remain up," said Brad Sorensen, director of market and sector analysis at Charles Schwab in Denver. "The only growth we're seeing is sluggish."

On Wednesday, the S&P 500 and the Nasdaq posted their worst daily declines of the year after the minutes from the Federal Reserve's most recent meeting sparked concerns that the central bank may rein in its economic stimulus measures.

"The upside momentum in markets appears to be coming to an end as we consolidate recent gains," said Adam Sarhan, chief executive at Sarhan Capital in New York. "If the S&P breaks under its 50-day moving average, something more serious could be in store."

The S&P 500 would need to fall 1.9 percent to reach that level of 1,473.58.

Other reports showed consumer prices were flat in January while existing-home sales edged higher and left the inventory of homes at the lowest level in 13 years.

Wal-Mart Stores Inc shares gained 2.5 percent to $70.94 and helped curb the Dow's decline after the world's largest retailer reported earnings that beat expectations, though early February sales were sluggish.

The Dow Jones industrial average <.dji> was down 70.03 points, or 0.50 percent, at 13,857.51. The Standard & Poor's 500 Index <.spx> was down 11.23 points, or 0.74 percent, at 1,500.72. The Nasdaq Composite Index <.ixic> was down 36.50 points, or 1.15 percent, at 3,127.92.

The benchmark S&P 500 index has dropped 1.9 percent over the past two sessions, the biggest two-day decline since November.

Wall Street will soon face another test with the upcoming debate in Washington over the automatic across-the-board spending cuts put in place as part of a larger congressional budget fight. Those cuts, set to kick in on March 1 unless lawmakers agree on an alternative, are expected to depress economic growth.

Semiconductor stocks ranked among the weakest of the day, pressuring the Nasdaq as the Philadelphia Semiconductor index <.sox> fell 1.8 percent. Intel Corp fell 2.2 percent to $20.27 while Advanced Micro Devices lost 4.8 percent to $2.57 as the S&P's biggest percentage decliner.

The semiconductor sector has performed well so far in 2013, rising 8.4 percent.

In company news, shares of supermarket operator Safeway Inc jumped 13.4 percent to $22.83 and ranked as the S&P 500's top percentage gainer after the company reported earnings that beat expectations.

In contrast, shares of VeriFone Systems Inc tumbled nearly 40 percent to $19.28 after the credit-card swipe machine maker forecast first- and second-quarter profits well below expectations.

Of the 427 companies in the S&P 500 that have reported results so far, 69.3 percent have exceeded analysts' expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters, according to Thomson Reuters data through Thursday morning.

Fourth-quarter earnings for S&P 500 companies are estimated to have risen 5.9 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.

Berry Petroleum Co jumped 17.3 percent to $45.25 after oil and gas producer Linn Energy LLC said it would buy the company in an all-stock deal valued at $4.3 billion, including debt. Linn Energy shares advanced 1.9 percent to $37.33.

(Editing by Kenneth Barry and Jan Paschal)

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