US stocks close lower as Fed meets


01/08/2012 08:48 AST  Business Times

US stocks closed lower for a second straight day on Tuesday as investors awaited the outcome of the Federal Reserve's two-day monetary policy meeting.

The Dow Jones Industrial Average closed at 13,008.68, down 64.33 points (0.49 percent).

The S&P 500 fell 5.98 points (0.43 percent) to 1,379.32 and the tech-rich Nasdaq dropped 6.32 points (0.21 percent) to 2,939.52.

"Tomorrow's impending Federal Reserve statement at the conclusion of its monetary policy meeting, and what it may hold, appeared to be the day's focus," Charles Schwab & Co. analysts said.

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