Stocks tumble for a second day

By msnbc.com news services

U.S. stocks fell for a second day Wednesday as investors faced the prospect of no new monetary stimulus from the Federal Reserve and as a poorly received bond auction in Spain suggested the effects.

Selling was broad as indexes tracking nine of the 10 S&P 500 sectors were lower, with energy, financial and technology stocks among the worst performers. The benchmark S&P 500 index has fallen in eight of the past 12 sessions.

Stocks continued to feel the fallout from minutes from the Federal Reserve's latest meeting, published on Tuesday. They showed the Fed's policy-setting Federal Open Market Committee was moving away from introducing more monetary stimulus in a surprise turn for the market.

"The major support for the economy and for the financial markets over the past two years has been stimulus, and without it it's still a question whether these economies can make it on their own," said Bruce Bittles, chief investment strategist at Robert W. Baird & Co in Nashville.

Reuters contributed to this report.

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