Stocks fell sharply on Wednesday after the Federal Reserve said the most senior officials agreed that the central bank should terminate its massive bond-buying program.
At the close, the Dow Jones Industrial Average fell 105 points. This is the index for the sixth consecutive decline, the longest losing streak since July 2012.
Minutes from the Fed's July policy meeting, board members said, "The time may soon" to slow procurement. The bond-buying program since late 2008, has been in some form or another keep interest rates low to encourage economic growth.
Traders have been worried about weak earnings, and have been looking for clear how and when the Fed will end its bond-buying program. Some investors believe that the Fed's bond-buying the stock price has soared.
Commonwealth Financial chief investment officer Brad McMillan said that the market has over-reaction of the possibility that the Fed will gradually shut down its bond purchases.
"The market is beginning to realize that, yes ah, taper what will happen, perhaps, this will not be the end of the world," he said.
The Dow Jones index fell 105.44 points, or 0.7 percent, to 14,897.55. The Dow Jones index has fallen 4.9% since August 2 hit a record high.
Standard & Poor's 500-stock index fell 9.55 points to 1,642.80 points, or 0.6%. The Nasdaq composite index fell 13.80 points, or 0.4 percent, to 3,599.79.
U.S. economist with RBS Securities, said Guy Berger, mostly in line with market had expected the Fed meeting minutes.
"Minutes are very consistent with Fed members have been saying since June," the first time when the Fed Chairman Ben Bernanke laid back the idea of ??buying bonds, Berger said.
The Fed has purchased from December's $ 8.5 billion of dollar bonds a month. Berger is expected, the Fed may be reduced to $ 6.5 billion U.S. dollars, the central bank held in September.
"August's employment report will be very important," he said.
Bond yields rose sharply in the past few weeks, because investors expect the Fed's plan ends.
The benchmark 10-year Treasury yields jumped sharply on Wednesday to 2.89% 2.82% the previous day. Used for many types of loans, personal mortgage loans by the big companies to determine interest rate on the benchmark 10-year Treasury bonds.
Retail stocks focusing again, not in a good way. Goal, like many other retailers in the past two weeks, issued a silent sales outlook for the rest of the year. The stock fell $ 2.45, or 3.6 percent, to $ 65.50.
Staples fell $ 2.57, or 15.3 percent, to $ 14.27 office supplies chain after a missed financial analysts expected earnings and sales. The company also lowered its full-year earnings forecast.
American Eagle clothing plunged $ 1.62, or 10 percent, to $ 14.27 after reporting it had to cut prices because consumers reluctant to spend. American Eagle (American Eagle) is the latest teen clothing retailer reported disappointing earnings or reduce their prospects after, Urban Outfitters and others.
A highlight of the retail Home Depot competitor Lowe's, which is up 3.9%, S & P 500 index in the second big winner. Home improvement retail chains that get 88 cents per share, in the period ended in August, leading financial analysts' expectations of 79 cents a share. The company also raised its full-year sales and earnings forecast, citing improved outlook for the U.S. housing market.
In related news, the National Association of Realtors said Wednesday that sales of previously occupied homes in June, in July jumped to an annual rate of 506 000 000 53 900. Home sales in November 2009, the highest level since.
 



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