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1 May 2013
Wall Street falls strong after FOMC
FXstreet.com (San Francisco) - The US stocks market closed lower on Wednesday as investors were disappointed by the Federal Reserve decision decision to remain unchanged in its interest rate and monetary policy. All three major indexes opened May with losses.
No clear signs on what the Fed will do in the middle term as the Committee also voted to maintain the Fed's assets purchases at $85 billion per month and signaled it is prepared to either "increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labor market or inflation changes".
The Dow Jones declined 138.85 points or 0.94% to end the day at 14,700.95. The S&P 500 eased 17.87 points or 0.93% to close at 1,582.70. And the Nasdaq lost 29.66 points or 0.89% to 3,299.13.
No clear signs on what the Fed will do in the middle term as the Committee also voted to maintain the Fed's assets purchases at $85 billion per month and signaled it is prepared to either "increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labor market or inflation changes".
The Dow Jones declined 138.85 points or 0.94% to end the day at 14,700.95. The S&P 500 eased 17.87 points or 0.93% to close at 1,582.70. And the Nasdaq lost 29.66 points or 0.89% to 3,299.13.