Stocks Ended Lower on Europe Fears

U.S. stocks finished lower on Wednesday, with the S&P 500 Index sealing a fifth day of losses, its longest such streak since July, as austerity unrest in Europe sparked investor concern. The Dow Jones Industrial Average closed down 44.04 points, or 0.33%, at 13,413.51. The S&P 500 fell 8.27 points, or 0.57%, to close at 1,433.32. The Nasdaq Composite shed 24.03 points, or 0.77%, to 3,093.70.

The Federal Reserve should keep on buying assets to lower borrowing costs until U.S. employers are routinely adding 200,000 or more jobs a month, for at least two quarters, a top Fed policy maker known for his dovish views said on Wednesday.The Federal Reserve’s next move will be to outright buy Treasurys, most likely at its meeting in early December, Fed watchers said Wednesday.

Barnes & Noble Inc’s first high-definition tablets, unveiled on Wednesday, were well received by analysts who said the devices keep the bookseller in the fight with Amazon.com Inc, Apple Inc and Google Inc – for now.

Oil futures struggled to hold on to $90 a barrel Wednesday, less than two weeks after topping $100, under pressure from renewed concerns about the euro zone and as a surprise decrease in inventories failed to lift prices. Crude-oil futures for November delivery (XNYM:CLX2) declined $2.06, or 2.2%, to $89.31 a barrel on the New York Mercantile Exchange.