Stocks Edge Lower After Fed Minutes Show Concern
Stocks gave up modest gains after minutes from a Federal Reserve meeting showed central bank officials are still concerned about the economy.
The minutes from the Fed's Aug. 10 meeting showed that the bank recognized the economy might need further stimulus beyond purchases of government debt. Some members of the Fed's policy-setting committee acknowledged the economy had softened more than they had anticipated.
In afternoon trading, the Dow fell 24, or 0.2 percent, to 9,986.
The Standard & Poor's 500 index fell 3, or 0.3 percent, to 1,046. The Nasdaq fell 14 or 0.7 percent, to 2,105.
Falling stocks narrowly outpaced gaining ones on the New York Stock Exchange, where volume was very light at 680 million shares.
In afternoon trading, a surprise jump in consumer confidence had given stocks a lift. (More on this)