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Weary investors await more clues on US economy and rates policy

Index

US stocks fell back from record highs yesterday and the dollar slipped from an 11-year peak as a lack of fresh incentives left buyers on the sidelines. There was a general sense of fatigue in equity markets as participants waited for further clues about the strength of the US economy and the likelihood of the Federal Reserve raising interest rates this year. By midday in New York, the S&P 500 was down 0.8% at 2,100, after setting a record closing high of 2,117.39 in the previous session. The Nasdaq Composite index, which closed above the 5,000 level on Monday for the first time in nearly 15 years, was off 1% at 4,960, and the pan-European FTSE Eurofirst 300 index also fell 1%.

 

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