Markets Give Back Tuesday Gains Despite Positive Fed Report
Published at | Updated at
iStock/Thinkstock(NEW YORK) — Wall Street rebounded from a poor early session on Wednesday, but still gave back all of Tuesday’s gains and more, despite a positive report from the Federal Reserve.
The Dow Jones Industrial Average slid down 173.45 to a close of 16,141.74, though it had been down about 400 in earlier trading.
The Nasdaq dropped 11.85, ending the day at 4,215.32, while the S&P 500 gave up 15.21, finishing at 1,862.49.
The Federal Reserve released its October “Beige Book” on Wednesday, which showed improvement and growth in many aspects of the economy, including banking conditions, consumer spending, manufacturing and employment. In addition to national economic improvement, the report also indicated that each economic indicator had improved in many regions around the country.
Follow @ABCNewsRadio
Copyright 2014 ABC News Radio