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US stocks close lower as Fed meets

Published on Aug 1, 2012 6:28 AM

NEW YORK (AFP) - United States (US) stocks closed lower for a second straight day on Tuesday as investors awaited the outcome of the Federal Reserve's two-day monetary policy meeting.

The Dow Jones Industrial Average closed at 13,008.68, down 64.33 points (0.49 per cent).

The S&P 500 fell 5.98 points (0.43 per cent) to 1,379.32 and the tech-rich Nasdaq dropped 6.32 (0.21 per cent) to 2,939.52.

"Tomorrow's (Wednesday) impending Federal Reserve statement at the conclusion of its monetary policy meeting, and what it may hold, appeared to be the day's focus," Charles Schwab & Co analysts said.

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