Concerns about the strength of the economy and the potential for a budget fight in Washington pushed down the stock market Monday.
The Dow Jones industrial average and the Standard & Poor’s 500 index fell for a third straight day.
The Dow jumped 147 points last Wednesday to close at an all-time high after the Fed decided to keep its huge economic stimulus program intact. But that rally has been wiped out by anxiety over a budget and debt fight in Washington over the past three days.
Investors initially cheered the Fed’s surprise decision to keep its stimulus in place because the program has helped sustain a bull run in stocks dating back to March 2009.
— From wire reports