US stocks fall after Fed minutes

11 Jul, 2012

The major indexes fell into the red amid lingering doubts about a bailout plan for Spain, weak US business confidence figures and the expectation of mediocre earnings.

The Dow Jones Industrial Average finished trade down 0.38 percent, or 48.59 points, to 12,604.53.

The Nasdaq fell 0.49 percent, or 14.35 points, to 2,887.98.

The S&P 500 stood at 1,341.45, down 0.02 points, a fraction of a percent.

Markets dipped after the publication of the minutes from the Federal Reserve's most recent policy meeting in June, which showed few surprises.

The minutes showed that several of the Federal Reserve's top policy makers urged the central bank to look at new tools to bolster the financial system amid a weak recovery, but also showed the Fed split on how, when and if to provide more stimulus.

Oil firms were among the Dow winners, with Chevron up 1.2 percent and ExxonMobil up 1.5 percent.

The US bond market was mixed.

The 10-year Treasury yield was flat at 1.51 percent, while the yield on the 30-year fell 0.005 points to just under 2.59 percent.

Yields go up as prices go down.

Copyright AFP (Agence France-Presse), 2012

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