U.S. Stocks Fall as Fed Sees Bond Buying Ending in 2013
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U.S. stocks fell, following the biggest rally in a year for the Standard & Poor’s 500 Index, as Federal Reserve policy makers said they will probably end their $85 billion monthly bond-purchase program sometime in 2013.
Family Dollar Stores Inc. tumbled 13 percent after forecasting second-quarter earnings that missed estimates. UnitedHealth Group Inc. sank 4.7 percent after the biggest U.S. health insurer was cut to hold from buy at Deutsche Bank AG. Ross Stores Inc. and TJX Cos. jumped at least 3.3 percent as consumer-discretionary companies rallied amid same-store sales that topped estimates.