Stocks Turn Solidly Lower After Fed Says Extra Stimulus Could Wrap Up Later This Year

By
A A A

Stocks fell Wednesday snapping two days of strong advances after Federal Reserve officials said stimulus efforts could end later this year, adding that interest rates could start rise as soon as six months after that. The Fed said job market conditions will largely drive its decision-making but it dropped a firm unemployment target from its policy strategy. Weak earnings by business software company Oracle ( ORCL ) and delivery carrier Federal Express also contributed to the downbeat mood. Energy and materials stock finished with the steepest declines, each falling nearly 1% as a group, closely followed by a drop for shares of consumer discretionary companies.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: ORCL

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

51,342,867
  • $16.205 ▲ 0.28%
13,305,020
  • $101.1062 ▲ 0.52%
10,255,222
  • $59.8996 ▲ 7.52%
8,553,854
  • $32.272 ▲ 8.59%
8,052,297
  • $99.0699 ▲ 0.17%
8,043,923
  • $51.28 ▲ 0.41%
7,950,191
  • $74.515 ▼ 0.07%
7,292,416
  • $11.0928 ▲ 13.89%
As of 8/22/2014, 10:45 AM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com