Stocks fell on Friday, capping a losing week for the market, as new data put the US economy in an optimistic light, which investors reasoned may erode the Federal Reserve's case for continuing to lower interest rates.
The slide snapped four straight winning weeks for the Dow Jones industrial average and the benchmark Standard & Poor's 500. The Dow fell 99.93 points to end at 10,810.51, while the Nasdaq composite index dropped 21.37 points to 2,107.49. The S&P 500 index fell 10.22 points to 1,244.96, its lowest finish since April 26th.
The Fed's policy committee is scheduled to meet on Tuesday to consider changing interest rates. The central bank has lowered rates four times this year, each time by one-half a percentage point, to jump-start flagging economic growth.
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