The Joplin Globe, Joplin, MO

Business

September 10, 2012

Stocks end lower ahead of Fed meeting

NEW YORK — Stocks are ending lower on Wall Street as troubling economic news from China and the U.S. outweighed optimism about more stimulus from the Federal Reserve.

The Dow Jones industrial average closed down 52 points at 13,254 Monday. The Standard & Poor’s 500 slipped nine points to 1,429 and the Nasdaq composite fell 32 points to 3,104.

The stumble marks a pause in a rally last week that took the Dow and the S&P 500 to their highest levels in more than four years. The Federal Reserve meets on Wednesday and Thursday amid anticipation that the central bank will announce a third round of bond purchases.

Three stocks fell for every two that rose on the New York Stock Exchange. Trading volume was slightly lower than average at 3.2 billion shares.

 

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