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Stocks logged another decline in choppy trading Wednesday following the Fed's meeting minutes and after conflicting reports suggesting the ECB could halt monetary operations to certain Greek banks, reigniting jitters over the debt-ridden nation.
The Dow Jones Industrial Average slipped 33.45 points, or 0.26 percent, to close at 12,598.55, led by Alcoa and BofA . The Dow has closed lower 10 times out of the past 11 sessions. GE led the blue-chip gainers.
The S&P 500 fell 5.86 points, or 0.44 percent, to finish at 1,324.80. The Nasdaq declined 19.72 points, or 0.68 percent, to end at 2,874.04. The CBOE Volatility Index, widely considered the best gauge of fear in the market, closed above 22.
Among the key S&P sectors, financials led the laggards, while consumer staples eked out a small gain.
“All the economic reports have been good—things are trending in the right direction—but it’s not good enough to trump what’s going on in Europe,” said Alan Valdes, director of floor operations and VP of trading at DME Securities. “The markets trade in a 24/7 news cycle and the minute news comes out, we move on it…all the uncertainty that drove the market last year are still here.”
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