Wall St declines as investors focus on Fed policy meeting
NEW YORK (REUTERS) - United States (US) stocks fell on Monday, pulling back before this week's Federal Reserve meeting that could signal when the Fed is going to begin reducing its bond purchases aimed at helping the economic recovery.
Losses were led by the energy and financial sectors, with both the S&P energy index and S&P financial index down 0.8 per cent.
Shares of Southwestern Energy slid 3 per cent to $38.14 and shares of Noble Energy fell 2.1 per cent to $62.07 following as a decline in natural gas prices.
Several merger announcements helped to limit losses, along with news of a US$1 billion (S$1.26 billion) stock repurchase program by Caterpillar that pushed its stock up 1.1 per cent to $83.03, making it the biggest support for the Dow.