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Stocks Fall As Fed Sticks With Wind-down Plan

Wochit 0:55 mins

Stock and bond prices are falling after the Federal Reserve indicated that it's still on track to slow its bond purchases by the end of the year. It has certainly been a rough 2013 for LivingSocial. The daily deals company had to cope with an erroneous report about its $110 million funding round, a hack of customer information and a sloppy shutdown of its local-events business. And, of course, the growing perception by many investors and consumers that daily deals companies are doomed. According to the official summary of their last meeting, Federal Reserve policy makers were edging closer to scaling back their huge stimulus efforts, despite new concerns that growth may prove disappointing in the second half.

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