Stocks edge lower as investors reassess Fed fears

6:05 AM, May 24, 2013   |    comments
A sign for Wall Street is seen just outside the New York Stock Exchange.(Photo: Timothy A. Clary, AFP/Getty Images)
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NEW YORK (AP) - Investors recovered their poise after a shaky start to trading on Wall Street that sent stocks sharply lower.

U.S. markets plummeted immediately after the opening bell Thursday following a global slump prompted partly by an unexpected slowdown in Chinese manufacturing. Concern that the Federal Reserve might ease back on its economic stimulus program sooner than expected had also riled investors.

The dip gave investors who missed this year's stock market surge an opportunity to get into the market, and by midday the market had recouped most of its early loss. Stocks even climbed into positive territory by midday, then ended the day marginally lower.

The Dow Jones industrial average ended the day just 12.67 points lower, or 0.1 percent, at 15,294.50. It fell as much as 127 points during the first hour of trading.

In other U.S. stock trading, the Standard & Poor's 500 index closed down 4.84 points to 1,650.51, or 0.3 percent. The Nasdaq composite fell 3.88 points, or 0.1 percent, to 3,459.42.

 

 

 

 

 

Associated Press

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