NEW YORK -- Stocks fell Wednesday as investors locked in profits from Tuesday's rally while clinging to fears that the Federal Reserve's latest interest rate increase won't slow the nation's rapid economic growth.
The Dow Jones industrial average fell 49.24 to close at 10,883.09.
Declining issues outnumbered advancers by a 3-to-2 margin on the New York Stock Exchange. NYSE volume totaled 938.69 million shares, just ahead of 935.86 million Tuesday.
NBC, Post strike news-sharing deal
NEW YORK -- NBC and The Washington Post Co. are joining hands to share news reports in print, on TV and the Internet. The partnership, announced Wednesday, is the latest of several news gathering alliances.
Contributors to the alliance will be NBC News, the MSNBC cable network and Internet site, and print and Web operations of The Washington Post and its sister publication, Newsweek magazine. The partners also will share technology and offer joint advertising packages in a variety of media. Financial terms of the deal weren't disclosed.
Bond firm must pay $15.3 million
WASHINGTON -- The investment firm BT Alex. Brown Inc. has agreed to pay $15.3 million in the largest settlement yet in the federal government's investigation of alleged price-gouging in the municipal bond market.
The Securities and Exchange Commission said the firm overcharged Pennsylvania, as the bond issuer, for U.S. Treasury securities. The agency also charged several individuals with violations of securities laws related to the case.