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U.S. stocks decline amid Fed officials' comments

Xinhua, October 5, 2016 Adjust font size:

U.S. stocks reversed early gains to end lower Tuesday, as Wall Street digested remarks from the U.S. Federal Reserve officials.

The Dow Jones Industrial Average dipped 85.40 points, or 0.47 percent, to 18,168.45. The S&P 500 lost 10.71 points, or 0.50 percent, to 2,150.49. The Nasdaq Composite Index was down 11.22 points, or 0.21 percent, to 5,289.66.

With no major economic data due Tuesday, Wall Street focused on Fed speakers for more indications on the timing of a next interest rate hike.

Richmond Fed President Jeffrey Lacker, a non-voting member of the Fed's policymaking committee, said there was a strong case to raise interest rates, according to Reuters.

Cleveland Fed President Loretta Mester said on Monday that the central bank should not delay raising rates.

Meanwhile, traders keep a close eye on Friday's nonfarm jobs report for more clues on the central bank's next move.

Overseas, European equities posted solid gains Tuesday amid abating concerns about Deutsche Bank. German benchmark DAX index at Frankfurt Stock Exchange added 1.03 percent, while British benchmark FTSE 100 Index jumped 1.30 percent.

In Asia, Tokyo stocks close higher Tuesday as a softer yen buoyed export-linked shares, with the 225-issue Nikkei Stock Average going up 0.83 percent, while Chinese stock markets were still closed for a public holiday. Enditem