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Wall St. falls after Fed minutes; technicals weigh

Started by riky, February 20, 2014, 09:00:19 AM

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riky

Wall St. falls after Fed minutes; technicals weigh

<p><a href="http://news.yahoo.com/futures-dip-ahead-housing-data-fed-minutes-131738232--sector.html"><img src="http://l3.yimg.com/bt/api/res/1.2/WilnucpdpwYIqykrudWSdw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-02-19T155639Z_1_CBREA1I18AH00_RTROPTP_2_MARKETS-STOCKS.JPG" width="130" height="86" alt="Traders work on the floor of the New York Stock Exchange" align="left" title="Traders work on the floor of the New York Stock Exchange" border="0" /></a>By Rodrigo Campos NEW YORK (Reuters) - Stocks slid on Wednesday in a late selloff after minutes of the U.S. Federal Reserve's latest policy-setting meeting indicated that the central bank will keep trimming its bond-buying stimulus unless there is a significant economic surprise. The market also faced technical resistance as the S&amp;P 500 earlier traded within a point of its record closing high set last month. Minutes from the January meeting of the Federal Reserve's policy-setting committee showed that several policymakers wanted to hone in on the idea that their asset-purchase program would be trimmed in predictable, $10-billion steps unless there is a big economic surprise this year. The statement doesn't deviate much from previous Fed communications, but market participants have been expecting the Fed to point to recent weakness in the economic data and reinforce their commitment to stimulating the economy.</p><br clear="all"/>

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