U.S. stocks drop on new budget

U.S. shares edged lower on Wednesday trading session recording the largest drops in a month after the U.S. lawmakers agreed on a new provisional budget easing some of the fiscal drag and suggesting that the Fed may curb its stimulus on the next policy meeting. The S&P 500 Index shed 1.13% to 1,782.22, the Dow Jones industrial average fell 0.81% to 15,843.53 and the Nasdaq Composite Index lost 1.4% to 4,003.813.