U.S. stocks fluctuated amid mixed earnings reports and data that renewed concern on the strength of the global economy as the Federal Reserve begins a two-day monetary policy meeting.
A rally in equities has tapped the brakes as investors await the latest from the Fed. Policy makers kept interest rates near zero last month, opting to hold off for a better read on the impact of weaker growth in China and lackluster inflation. Central bankers in Europe and China last week signaled commitment to bolstering their economies, which helped the Standard & Poor’s 500 Index erase a loss for the year.
The S&P 500 fell 0.4 percent to 2,063 at 12:39 p.m. in New York, and earlier dropped near its average price during the past 200 days. The Dow Jones Industrial Average slipped 35.01 points, or 0.2 percent, to 17,588.04. The Nasdaq Composite Index also declined 0.2 percent.
Source : Bloomberg