Wall Street lower on taper fears

Soft inflation dampens taper expectations, but investors remain nervous.

United States stocks have drifted lower in afternoon trade as the Federal Reserve begins a two-day meeting to decide whether to scale back its aggressive stimulus program.

At 0515 AEDT, the Dow Jones Industrial Average had lost 15.32 points, or 0.10%, to 15,869.25.

The broad-based S&P 500 fell 5.41 points, or 0.30%, to 1,781.13, while the tech-rich Nasdaq Composite Index declined 4.40 points, or 0.11%, to 4,025.12.

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