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Stocks Fall From Record Highs as Fed Chatter Re-Lights Taper Worries
By: MT Newswires
Stocks retreated from new record highs for the Dow Industrials and S&P 500 after a Federal Reserve official known for his hawkish views endorsed an end to the central bank's quantitative easing. The head of the New York Fed perhaps unintentionally also fueled the afternoon selloff, saying he's seeing signs of an improving U.S. economy - re-igniting worries among investors the Fed could soon shut down its stimulus programs. Late market chatter also centered on comments from activist investor Carl Icahn who, at a Reuters event, reportedly expressed concern for stock level sustainability.