The Straits Times
Published on Sep 18, 2012

US stocks take breather after Fed rally


NEW YORK (AFP) - United States stocks closed lower on Monday in the aftermath of the Federal Reserve's new QE3 stimulus rally amid concerns about weakness in US manufacturing and anti-American unrest in the Middle East.

The Federal Reserve's Empire State manufacturing index for the New York region fell for a second straight month in September.

"An unexpected deterioration in New York Manufacturing activity to the lowest level since April 2009 is offering no relief for sentiment," said Charles Schwab & Co analysts.

The Dow Jones Industrial Average finished off 40.27 points (0.30 per cent) at 13,553.10.