Stocks fall on Wall Street ahead of Fed policy statement
ABC News
Stocks fell in afternoon trading on Wall Street Wednesday as traders wait to hear from the Federal Reserve after its last policy meeting of the year
BANGKOK -- Stocks fell in afternoon trading on Wall Street Wednesday as traders wait to hear from the Federal Reserve after its last policy meeting of the year.
The S&P 500 index fell 0.3% as of 12:05 p.m. Eastern and is coming off of two days of losses. The Dow Jones Industrial Average fell 2 points, or less than 0.1%, to 35,539 and the Nasdaq fell 0.9%.
Retailers and other companies that rely on consumer spending fell. The slip follows the latest retail sales report from the Commerce Department. Sales rose a modest 0.3% in November, but fell short of economists' forecasts amid concerns that rising costs could crimp consumer spending.
Amazon.com fell 1.8%, General Motors fell 1.9%. Coach and Kate Spade owner Tapestry shed 3.4%.
