Fed Considers Tapering, Stocks Drop

Fed Considers Tapering, Stocks Drop (Bloomberg)

The S&P 500 dropped for the third straight day after minutes from the U.S. Federal Reserve indicated that the Fed is considering beginning tapering its stimulus in the next few months. “We’ve also had a very, very good year, so this may be a decision-making point for those who have enjoyed a very good return in the equity market,” Paul Mangus, head of equity strategy and research for Wells Fargo Private Bank in Charlotte, North Carolina, said. “The minutes were a continuation of what the [Federal Open Market Committee] has been saying all along.”