Stocks drop as Street assesses budget deal NEW YO
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Stocks drop as Street assesses budget deal
NEW YORK (MarketWatch) — U.S. stocks dropped on Wednesday as investors digested the Washington budget deal that could give the Federal Reserve another reason to scale back its bond-buying program soon.
Investors focused on the U.S. budget deal announced late Tuesday, which gives the Fed more reasons to pare its quantitative-easing program at its Dec. 17-18 meeting.
Failure to come up with a budget agreement could have triggered another government shutdown, and the Fed’s concerns about that scenario would have meant a later taper, analysts said. Tapering refers to reduction in the Fed’s $85 billion-a-month bond-buying program. http://www.marketwatch.com/story/stocks-under...2013-12-11
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