U.S. stocks decline as investors looking for any hints of tapering from todays and tomorrow’s Fed meeting. Investors are also uncertain and confused on which way the market will go after this big meeting because they are not confident on whether the market will stand without the stimulus.
The Federal Open Market Committee is expected to issue a statement on Wednesday about when the $85 Billion stimulus program that helped the S&P 500 gain 27% this year alone is expected to slow down.
As of right now investors know that there is going to be a cut in the program, but the big picture is when? Sooner or Later? December? January? Or March? Those are the 3 months that investors are looking at.
Dow Jones Industrial Average DJIA -0.06% closed down nine points to 15,875.26. The S&P 500 index SPX -0.31% closed 5 points, or 0.3% lower to 1,781.00. The benchmark index was down five days out of past six sessions. Nasdaq CompositeCOMP -0.15% was down six points, or 0.1, to 4,023.68.