U.S. shares retreat on Fed worries

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Source: Bloomberg

U.S. stocks retreated, ending the streak of 20 Tuesday gains in a row for the Dow Jones Industrial Average, as economists expect the Fed to wind down stimulus at the end of the summer. The Standard & Poor's 500 dropped 0.6% to 1,631.38 as of 4 p.m. New York time, reversing a gain of 0.4%, while the Dow slipped 0.5% to 15,177.54.

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Wed, 05 Jun 2013 09:23:08 GMT

Sterling appreciates as services output advances

The British Pound appreciated versus the greenback and shared currency as the U.K. services output expanded last four weeks by the most in almost 13 months. The Sterling rose 0.3% to $1.5355 as of 9:55 a.m. in London after advancing to $1.5376 on June 3, while the British currency jumped 0.4% to 85.06 pence per Euro.

Wed, 05 Jun 2013 08:14:36 GMT

European shares decline on Fed stimulus worries

European shares declined, following the U.S. equities retreat, on speculations that the Fed officials may wind down stimulus programme. According to economists at Deutsche Bank AG, the Fed is likely to start scaling back its stimulus package at the end of the August. The Stoxx Europe 600 Index fell 0.4% to 298.48 as of 8:39 a.m. London time, while the Standard

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