Stocks Ended Lower for Fourth Straight Session

U.S. stocks ended Thursday’s choppy session lower, declining for the fourth consecutive session, as investors remained nervous amid concerns over poor earnings prospects and worries that the Federal Reserve is moving closer to a rate hike. The Dow Jones Industrial Average lost 40.31 points, or 0.23%, to 17,678.23. The S&P 500 was down 4.90 points, or 0.24%, to 2,056.15. The Nasdaq Composite fell 13.16 points, or 0.27%, to 4,863.36.

The Fede0ral Reserve’s efforts to stimulate the U.S. economy after the financial crisis ended up costing savers nearly half a trillion dollars in interest income, according to report released Thursday.

Gold futures rallied past $1,200 an ounce on Thursday to settle at their highest level since early March. Gold for April delivery climbed $7.80, or 0.7%, to settle at $1,204.80 an ounce on Comex.

The team winding down Lehman Brothers Holdings Inc. said Thursday it would be paying $7.6 billion to creditors next week, more than six years after the investment bank’s collapse triggered the financial crisis.

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