Stocks Slip, Pressured by Fed Taper Talk

U.S. stocks edged lower on Tuesday as rising bond yields fueled debate over how soon the Federal Reserve may begin trimming its stimulus program. The Dow Jones industrial average fell 32.43 points or 0.21 percent, to end at 15,750.67. The S&P 500 lost 4.20 points or 0.24 percent, to finish at 1,767.69. The Nasdaq Composite added 0.13 point, or 0 percent, to close at 3,919.92.

The Federal Reserve could reduce the pace of its bond-buying program in December, said Dennis Lockhart, the president of the Atlanta Fed, on Tuesday.

Timothy Massad, the Treasury Department official responsible for overseeing the U.S. rescue of banks and automakers after the credit crisis, will be nominated to head the country’s top derivatives regulator.

As the holiday shopping season kicks off, Walmart is the latest major retailer to announce an even earlier launch to annual Black Friday weekend sales – beginning at dinnertime Thanksgiving evening.

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