Wall Street falls on Fed concern after 8-week run higher

Traders work on the floor of the New York Stock ExchangeBy Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks fell on Tuesday, sending the S&P 500 index lower for three straight sessions, as investors speculated the Federal Reserve may move to trim its stimulus earlier than some had anticipated. After eight weeks of gains in which the S&P 500 hit a series of record highs, investors may be locking in profits, analysts said. Stronger-than-expected data on manufacturing and construction spending on Monday underscored views the Fed may soon begin scaling back its stimulus of $ 85 billion in monthly bond purchases. "In general, the idea of tapering and rising interest rates is still at the forefront," said Bryant Evans, portfolio manager at Cozad Asset Management in Champaign, Illinois.



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