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U.S. stocks down for second day

August 6, 2013

Wall Street finishes lower on uncertainty about Fed’s move

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Summary:

  • Stocks plunged today because one of Federal Reserve’s voting members Evans, indicated that the stimulus that’s being pumped into the economy ($85 Billion Per Month) has the possibility of stopping as soon as September. This scared investors and everyone began selling and pulling back, thus leading the market down for a second day.
  • Another reason shares dropped today because of weak sales from Retailers such as American Eagle Outfitters (AEO) and missed earnings because of low second quarter earnings.
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