NEW YORK (AP) — 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.
Investors initially cheered the Federal Reserve’s decision last Wednesday to keep its huge stimulus program in place. But they’ve since focused on the central bank’s gloomier outlook for growth.
The Dow jumped 147 points last Wednesday to close at an all-time high. But the gain from that rally has been erased.