Stocks Slump

NEW YORK (November 7, 2013) The stock market pulled back Thursday from the record high it reached a day earlier as traders worried that the Federal Reserve could start pulling back on its economic stimulus next month.

Twitter was one of the few standouts, gaining 73 percent on its first day of trading.

The Dow Jones industrial average dropped 152 points, or 1 percent, to end at 15,593 Thursday, but other indexes fell even more.

The Standard & Poor's 500 lost 23 points, or 1.3 percent, to end at 1,747, its biggest decline since August.

The Nasdaq composite fell 74 points, 1.9 percent, to close at 3,857.

Investors bet that surprisingly rapid growth in the U.S. economy in the third quarter could prompt the Fed to reduce its huge bond purchasing program as early as next month, sooner than many had anticipated.


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