New York Report: Dow down on rates rise call

US STOCKS ended slightly lower yesterday, after the president of the Federal Reserve Bank of St Louis said interest-rate increases should come sooner rather than later.

The Dow Jones industrial average fell 21.38 points or 0.13 per cent, to end at 16,846.13. The S&P 500 slipped 2.31 points or 0.12 per cent, to 1,957.22. The Nasdaq Composite dipped 0.71 of a point or 0.02 per cent, to 4,379.05.

St Louis Fed president James Bullard, in an interview with Fox Business Network, reiterated his belief that raising rates by the end of the first quarter of 2015 would be appropriate.

US-listed shares of Barclays dropped 7.4 per cent to $14.55 after New York State’s attorney general filed a securities fraud lawsuit against the British bank, accusing it of giving an unfair edge in the US to high-frequency trading clients.