Stocks fall at midday; investors seek Fed clarity
The stock market is falling at midday as investors wait for more clarity from the Federal Reserve and look ahead to a budget fight in Washington.
The Dow Jones industrial average fell 62 points to 15,574 at 12 p.m. Eastern Time Friday. The Standard & Poor's 500 index slipped six points to 1,715. The Nasdaq eased five points to 3,783.
The Fed this week shocked markets by leaving in place its bond-buying program. Fed officials are giving speeches on Friday.
Investors are looking ahead to a budget fight in Washington. To keep the government running, Congress must pass a short-term spending bill before the fiscal year starts Oct. 1.
Darden, the parent of Olive Garden and Red Lobster, fell $2.82, or 6 percent, to $46.50 after reporting lower quarterly profit.
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