NEW YORK, N.Y. – Stocks are ending lower after a choppy day as investors react to news that the Federal Reserve will likely continue to pare back its economic stimulus.
Netflix fell on reports that the video-streaming company is in a dispute with Verizon and other broadband carriers over the cost of carrying Netflix’s programming.
Major indexes bobbed between slight gains and losses for much of the day, then turned lower in the last hour of trading.
The Dow Jones industrial average lost 89 points, or 0.6 per cent, to close at 16,040 Wednesday.
The Standard & Poor’s 500 index fell 12 points, or 0.7 per cent, to 1,828. The Nasdaq composite fell 34 points, or 0.8 per cent, to 4,237.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.73 per cent.