US stocks mostly lower as market pauses after Fed rally
NEW YORK (AFP) - US stocks on Thursday closed mostly lower a day after a record-setting surge spurred by the Federal Reserve easing stimulus.
At the closing bell, the Dow Jones Industrial Average edged up 9.50 points (0.06 per cent) to 16,177.47, a new record.
The broad-based S&P 500 slipped 1.15 (0.06 per cent) to 1,809.50, while the tech-rich Nasdaq Composite Index fell 11.93 (0.29 per cent) to 4,058.13.
Mace Blicksilver, director of Marblehead Asset Management, said stocks sometimes retreat by much greater margins the day after a big rally. On Wednesday, the Dow rose nearly 2 per cent.