US stocks falls as investors wait for Fed statement
18 March 2015, Nirapad News: US stocks pulled back on Tuesday from a rally in the previous session ahead of a Federal Reserve meeting that investors hope will bring insight on the timing of an interest rate hike. The benchmark S&P 500 index on Monday had seen its biggest percentage gain since Feb. 3. Last week, the Dow and S&P registered their third week of losses.
At 11:05 a.m., the Dow Jones industrial average fell 160.33 points, or 0.89 per cent, to 17,817.09, the S&P 500 lost 12.77 points, or 0.61 per cent, to 2,068.42 and the Nasdaq Composite dropped 17.21 points, or 0.35 per cent, to 4,912.30. The energy sector was down 0.9 per cent as oil prices fell with Brent crude down 2 per cent to $52.84 a barrel and US crude off 1.9 per cent at $43.07 as concerns over a growing supply glut weighed on the market. Black Diamond Inc shares rose 28.5 per cent to $9.08.
Declining issues outnumbered advancing ones on the NYSE by 1,968 to 915, for a 2.15-to-1 ratio; on the Nasdaq, 1,570 issues fell and 951 advanced, for a 1.65-to-1 ratio favoring decliners. The S&P 500 was posting 14 new 52-week highs and 2 new lows; the Nasdaq Composite was recording 57 new highs and 47 new lows.