Stocks Fell for Third Straight Day

U.S. stocks fell for a third straight day on Wednesday on growing uncertainty over when the Federal Reserve may start to wind down its stimulus. The Dow Jones Industrial Average fell 48.07 points, or 0.31%, to 15,470.67. The S&P 500 index declined 6.46 points, or 0.38%, to 1,690.91. The Nasdaq Composite shed 11.76 points, or 0.32%, to 3,654.

Groupon Inc on Wednesday reported quarterly revenue of $608.7 million, a stronger-than-expected result that lends credence to the deals site’s new mobile-centric strategy.

Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) shares fell late Wednesday after the coffee system maker’s quarterly revenue fell short of Wall Street expectations while margins improved. its fiscal third-quarter profit rose to $116.3 million, or 76 cents a share, from $73.3 million, or 46 cents a share, in the year-ago period. Revenue rose to $967.1 million from $869.2 million last year.

President Barack Obama said on Wednesday he would push to have a broad package of housing reform measures passed through Congress by the end of the year.

A U.S. appeals court ruled on Wednesday that Apple Inc should be able to renew its arguments at the International Trade Commission that Google Inc’s Motorola Mobility unit violated two patents relating to the iPhone.

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