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Tuesday, October 18, 2016

Wall Street slips as energy, consumer stocks drag


The Dow Jones industrial average fell 51.98 points, or 0.29 percent, to 18,086.4, the S&P 500 lost 6.48 points, or 0.3 percent, to 2,126.5 and the Nasdaq Composite dropped 14.34 points, or 0.27 percent, to 5,199.82.

Wall Street ended modestly lower on Monday as energy stocks retreated along with oil prices, while Amazon and Netflix weighed on the consumer discretionary sector.

Federal Reserve Vice Chairman Stanley Fischer warned that economic stability could be threatened by low interest rates and noted the central bank is "very close" to its employment and inflation targets, but said it was "not that simple" for the Fed to raise rates.

The Dow Jones industrial average fell 51.98 points, or 0.29 percent, to 18,086.4, the S&P 500 lost 6.48 points, or 0.3 percent, to 2,126.5 and the Nasdaq Composite dropped 14.34 points, or 0.27 percent, to 5,199.82.

Wall Street ended modestly lower on Monday as energy stocks retreated along with oil prices, while Amazon and Netflix weighed on the consumer discretionary sector.

Federal Reserve Vice Chairman Stanley Fischer warned that economic stability could be threatened by low interest rates and noted the central bank is "very close" to its employment and inflation targets, but said it was "not that simple" for the Fed to raise rates.


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