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US stocks slide as Fed signals a pullback in bond buys; overseas markets fall
NEW YORK (AP) ' Stocks are opening lower after the Federal Reserve signaled that it may be less willing to provide more stimulus to the U.S. economy.
The Dow Jones industrial average fell 121 points to 13,079 shortly after the opening of trading Wednesday.
The Standard & Poor's 500 index fell 12 points to 1,401. The Nasdaq composite slipped 32 points to 3081.
Minutes from the Fed's last meeting, released late Tuesday, started a sell-off that began in the U.S. and extended overseas.
Encouraged by job growth, the Fed's policy makers seem more willing to allow the economy to move forward on its own. The U.S. and overseas governments have worked actively to prop up economies damaged by the global downturn.