U.S. stocks declined today as more concerns rise about the Federal Reserve cutting its stimulus program soon.
One main factor U.S. stocks declined today was because of a political budget that was just announced, but needs approval from the House and Senate. This budget sets federal agency spending levels at $1.014 trillion for next fiscal year and reduces the chances of a government shutdown. The agreement increases the possibility that the Fed will reduce the size of its $85 billion monthly stimulus into that economy, this program alone fueled 27% of the gain in the S&P 500 in 2013.
The Fed will meet next week on December 17-18 to discuss the future of their stimulus program.