US stocks edged lower on Tuesday after a strong start to the second quarter and ahead of the release of minutes from the most recent meeting of the Federal Reserve's policy-setting committee. Commerce Department data reinforced the view the domestic economy was slowly improving as new orders for US factory orders rebounded in February, although the increase was short of expectations.
The Dow Jones industrial average was down 60.44 points, or 0.46 percent, at 13,204.05. The Standard & Poor's 500 Index was off 6.67 points, or 0.47 percent, at 1,412.37. The Nasdaq Composite Index dipped 5.63 points, or 0.18 percent, at 3,114.07. Financials were among the worst performers at midday. Morgan Stanley lost 1.7 percent to $19.47 after the Federal Reserve said it was taking an enforcement action against the company for the way one of its mortgage servicing units handled home loans. The S&P financial sector index dropped 1 percent.
Comments
Comments are closed for this article.