Investing.com - U.S. stocks slid on Tuesday in a quiet session
as investors remained on the sidelines to await the release of the
minutes from the Federal Reserve's October policy meeting on
At the close of U.S. trading, the Dow Jones Industrial Average
finished down 0.07%, the S&P 500 index fell 0.20%, while the
Nasdaq Composite index fell 0.44%.
Investors sidestepped equities on sentiments that the minutes of
the Fed's October meeting will likely reveal authorities still opt
it necessary to hold off on scaling back stimulus tools for now,
expectations that have largely been priced into trading.
Stimulus tools such as the Fed's USD85 billion in monthly asset
purchases drive down interest rates to spur recovery, boosting
stock prices in the process.
Elsewhere, Federal Reserve Chair Ben Bernanke is due to speak in
public Tuesday evening, and markets bet that the nation's top
economist won't signal the need for a timetable to begin tapering
the Fed's USD85 billion in monthly bond purchases.
Last week, Fed Chair Nominee Janet Yellen suggested the economy
still needs the U.S. central bank's ultra-loose monetary policies
to ensure recovery, and on Monday, the Fed's Bank of New York chief
William C. Dudley said he was hopeful that recovery will gain steam
soon but made no indication over a need to consider scaling back
Elsewhere, Home Depot released earnings that beat revenue and
profit forecasts, though a cautious outlook from Best Buy dampened
Leading Dow Jones Industrial Average performers included Chevron,
up 1.24%, Home Depot, up 0.90%, and JPMorgan, up 0.78%.
The Dow Jones Industrial Average's worst performers included Visa,
down 1.23%, Microsoft, down 1.22%, and Pfizer, down 1.06%.
European indices, meanwhile, finished lower.
After the close of European trade, the EURO STOXX 50 fell 1.02%,
France's CAC 40 fell 1.12%, while Germany's DAX 30 fell 0.35%.
Meanwhile, in the U.K. the FTSE 100 finished down 0.38%.
On Wednesday, the U.S. is to release data on retail sales, consumer
inflation, existing home sales and business inventories.
Markets will keep a close eye on the release of the Federal Reserve
minutes of its latest policy meeting.
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