US stocks drop on Fed taper talk
NEW YORK (AFP) - US stocks ended mostly lower on Monday on fairly quiet trading during which some investors fretted about the possible pullback of the Federal Reserve's aggressive bond-buying programme.
The Dow Jones Industrial Average was down 46.23 (0.30 per cent) at 15,612.13.
The broad-based S&P 500 dropped 2.53 (0.15 per cent) to 1,707.14, while the tech-rich Nasdaq Composite Index added 3.36 (0.09 per cent) at 3,692.95.
The US growth outlook appeared firmer as the Institute for Supply Management's July purchasing managers index for the services sector showed a healthy jump in activity.