U.S. stocks fell on Wednesday in another volatile session marked by uncertainty over whether the Federal Reserve may scale back stimulus measures.
Monetary stimulus tools such as the Fed’s USD85 billion monthly bond-buying program flood the economy with liquidity to spur recovery and keep borrowing costs low, a combination that sends stock prices rising as a side effect.
A lack of economic indicators and no second-quarter earnings reports due until July left investors with little to use as a weather vane, which fueled sentiments that volatility may be here to stay for a while.
At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.84%, the S&P 500 index ended down 0.84% as well, while the Nasdaq Composite index fell 1.06%.
Wednesday marked the first three-day losing streak for Dow Jones Industrial Average in 2013.
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