Stocks drop as economy puts brakes on rally

The yield on the 10-year Treasury note, which moves inversely to its price, fell 1 basis point to 1.99 percent.

Among other stocks making big moves Wednesday:

• Chesapeake Energy rose $1.14, or 6 percent, to $20.11 after the company said late Tuesday that embattled CEO Aubrey McClendon will leave the company this spring.

• Avery Dennison, a packing materials company, rose $2.30, or 6.4 percent, to $38.44 after it posted fourth-quarter earnings that beat analysts’ expectations and said it was selling two of its business units to CCL Industries for $500 million. The company will use the proceeds of the sale to buy back stock and make additional pension contributions.

• Copano Energy, a natural energy company, rose $4.90, or 14.8 percent, to $38.03 after the company said that it had agreed to be acquired by Kinder Morgan Energy Partners for about $3.2 billion in stock.

• MeadWestvaco, a packaging company, fell $1.30, or 3.9 percent, to $31.63 after the company reported earnings that fell short of analysts’ expectations.

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