December 10, 2013
Wall Street closes on fall amid Fed policy jitters
US stocks lost value today as traders balanced upbeat data from Germany and China with angst about the timing of Federal Reserve tapering as more top Fed officials took to the speakers' circuit.
The Dow Jones industrial average ended down 49.71 points, or 0.32 percent, at 15,401.38. The Standard & Poor's 500 Index finished down 8.07 points, or 0.47 percent, at 1,701.84. The Nasdaq Composite Index closed down 9.44 points, or 0.25 percent, at 3,765.29.
European shares traded flat at midday today after stronger euro zone data and Angela Merkel's landslide personal victory in Germany's election failed to offset dampening comments from a US Fed policymaker.
St Louis Federal Reserve President James Bullard said the US central bank could begin to rein in its bond-buying in October if data allowed, dampening the bullish mood on stock markets over the Fed's decision last week to delay withdrawing its monetary stimulus.
Having hit a session low of 1,258.10, the FTSEurofirst was flat at 1,262.34 by 1009 GMT, along with the broader STOXX 600 at 314.17. Both pared losses after euro zone PMI data added to signs that the economy is healing.