Wall Street fell on Thursday on fears of a faster tapering of the Federal Reserve's bond purchase program, although gains in banks and some strong earnings reports helped cap losses.
All three major U.S. indexes had declined sharply in early trading after a bomb blast in Afghanistan's capital city of Kabul briefly rattled sentiment."This short-term noise in Kabul is certainly not welcome news, but I think the market can look through that and it really wants to see what the Fed has to say tomorrow," said Thomas Hayes, managing member at Great Hill Capital in New York.
While many investors expect an eventual slowdown of bond purchases, they will look for clues on when and how the U.S. central bank will start tapering when Fed chief Jerome Powell speaks at the Jackson Hole economic symposium on Friday.In separate interviews on Thursday, St.
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