Wall St slips on worries over Fed tapering, banks limit losses

New York- Wall Street fell on Thursday on fears of a faster tapering of the Federal Reserve's bond purchase program, although gains in b...


New York- Wall Street fell on Thursday on fears of a faster tapering of the Federal Reserve's bond purchase program, although gains in banks and some strong earnings reports helped cap losses.

All three major U.S. indexes had declined sharply in early trading after a bomb blast in Afghanistan's capital city of Kabul briefly rattled sentiment. read more

"This short-term noise in Kabul is certainly not welcome news, but I think the market can look through that and it really wants to see what the Fed has to say tomorrow," said Thomas Hayes, managing member at Great Hill Capital in New York.

While many investors expect an eventual slowdown of bond purchases, they will look for clues on when and how the U.S. central bank will start tapering when Fed chief Jerome Powell speaks at the Jackson Hole economic symposium on Friday.  

In separate interviews on Thursday, St. Louis Federal Reserve president James Bullard and Kansas City Fed president Esther George and Dallas Fed president Robert Kaplan downplayed the impact of the Delta variant and urged the central bank to begin paring bond purchases they feel have become ineffective.

-News Feed

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Local Glob: Wall St slips on worries over Fed tapering, banks limit losses
Wall St slips on worries over Fed tapering, banks limit losses
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