US stocks drifted lower yesterday as investors cashed in profits and awaited the outcome of a two-day Federal Reserve meeting on interest rates.
The Nasdaq slipped 53.16 points (1.36 per cent) to close at 3,858.96 and the Dow industrials shed 38.53 points (0.37 per cent) at 10,504.46.
The Standard and Poor's 500 declined 4.76 points (0.33 per cent) to close at 1,450.55.
But on the broader New York Stock Exchange, the mood was positive as 1,632 issues were higher, 1,296 lower and 458 unchanged as 1.03 billion shares changed hands.
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On the bond market, the yield on the 10-year Treasury bond eased to 6.078 per cent against 6.095 per cent on Monday and on the 30-year bond to 5.941 per cent from 5.983 per cent.
