U.S. stocks fall in end-of-quarter selloff; Dow declines 0.17%

Written By Unknown on Rabu, 01 Oktober 2014 | 08.10

Investing.com - Investing.com - U.S. stocks fell on Tuesday as investors sold on the last day of the third quarter to re-position themselves for year-end trading in a session marked by lackluster U.S. data.

At the close of U.S. trading, the Dow 30 fell 0.17%, the S&P 500 index fell 0.28%, while the NASDAQ Composite index also fell 0.28%.

The Volatility S&P 500 index, which measures the outlook for market volatility, was up 2.07% at 16.31.

Equities edged lower on Tuesday as investors took the end of the third quarter to sell stocks with the aim of buying growth stocks towards the end of 2014 to boost yearly fund performance.

Lackluster U.S. data added to Tuesday's selloff as well.

The Conference Board reported earlier that its consumer confidence index fell to 86.0 this month from 93.4 in August, whose figure was revised up from a previously reported 92.4.

Analysts expected the index to decline to 92.5 in September.

A separate report showed that a Chicago-area purchasing managers' index fell to 60.5 this month from 64.3 in August. Analysts had expected the index to decline to 61.9 in September.

Leading Dow Jones Industrial Average performers included Visa Inc (NYSE:V), up 1.17%, Coca-Cola Company (NYSE:KO), up 1.01%, and General Electric Company (NYSE:GE), up 0.85%.

The Dow Jones Industrial Average's worst performers included McDonald's Corporation (NYSE:MCD), down 1.47%, Home Depot Inc (NYSE:HD), down 1.20%, and Boeing Company (NYSE:BA), down 1.05%.

European indices, meanwhile, ended the day largely higher.

After the close of European trade, the DJ Euro Stoxx 50 rose 1.42%, France's CAC 40 rose 1.33%, while Germany's DAX rose 0.55%. Meanwhile, in the U.K. the FTSE 100 fell 0.36%.

On Wednesday, the U.S. is to release the ADP report on private-sector job creation, which leads the government's nonfarm payrolls report by two days. Later in the session, the Institute of Supply Management is to release a report on manufacturing activity.

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