Stocks fell sharply Wednesday after the Federal Reserve disclosed that its top officials were mostly in agreement that the central bank should end its massive bond-buying program.
Three years after President Barack Obama signed a sweeping overhaul of lending and high-finance rules, execution of the law is behind schedule with scores of regulations yet to be written, let alone enforced. Meeting privately with the nation's top financial regulators on Monday, Obama prodded them to act more swiftly.
Warnings of weaker sales from two major companies and concern that the Federal Reserve will soon start withdrawing its support for the economy pummeled the stock market Thursday. The Dow Jones industrial average slumped 225 points, its worst day in nearly two months.
The stock market fell on Wednesday as a poor earnings report from Macy's cast doubt on the outlook for consumer spending, a vital component of the U.S. economy.