U.S. stocks down because after comments from Dallas Federal Reserve chairman said that the Federal Reserve is getting closer to slowing down the stimulus soon.
The technology sector was the S&P 500’s best performer with Apple leading because the Obama administration VETOED an International Trade Commission import ban on some of its products.
Since unemployment rate recently decreased to 7.4% means that the Federal Reserve is closer to dialing back its $85 billion-a-month bond-buying program, Dallas Federal Reserve Bank President Richard Fisher said on Monday. The stimulus program is given credit for a large part of this year’s rally in the U.S. stock market.
Data released in U.S. showing a strong growth in the service sector from a 3 year low.