U.S. stocks traded lower on Tuesday as markets weighed economic data showing rising labor costs and deteriorating consumer confidence on the eve of a key Federal Reserve policy meeting to decide the direction of interest rates. Data showed on Tuesday that U.S. labor costs rose by a more-than-expected 1.2% last quarter, indicating an uptick in wage pressures.
Taxpayers will cover £85bn of losses made by the Bank of England on its quantitative easing programme which began during the global financial crisis, according to the latest estimates.
The stock market was sliding again on Tuesday to close out its worst month since the fall. The Dow Jones Industrial Average was down 419 points, or 1.1%. The S&P 500 was down 1%. The Nasdaq Composite was down 1.