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by pna and xinhua

United States stocks ended lower on Tuesday, erasing early session gains, as investors were not motivated enough to push major indexes a step higher around their multi-year highs.

When the market closed, the Dow Jones Industrial Average lost 68.06 points, or 0.51 percent, to close at 13,203.58.

The Standard & Poor's 500-stock Index dropped 4.96 points, or 0.35 percent, to settle at 1,413.17 after the broader index struck the highest level since May 19, 2008.

The Nasdaq Composite Index gave up 8.95 points, or 0.29 percent, to end at 3,067.26. In the earlier session, the tech-heavy average also touched a new intraday high since December 2000. The early day rally came as expectations for further stimulus from central banks continued to boost sentiment.

The U.S. Federal Reserve started a two-day meeting on Tuesday, refueling hopes for another round of quantitative easing.

Investors were awaiting the release of the Fed's minutes from its last policy meeting that ended on Aug. 1, trying to figure out if more central bankers were supportive of more easing.

There's also a lot of monetary-easing chatter going around, betting the Fed Chairman Ben Bernanke may talk about monetary stimulus options at a conference in Jackson Hole, Wyoming, at the end of this month.

In Europe, Greek Prime Minister Antonis Samaras will meet euro-zone officials late this week, trying to secure more funding from the European Union, International Monetary Fund and ECB.

German Chancellor Angela Merkel will also meet with French President Francois Hollande for a working dinner on Thursday.

It is well expected that the ECB would decide to intervene bond markets of European countries, helping to push down borrowing costs.

Financials were the only one ending higher among ten S&P 500 big-cap sectors, while technology and telecom lagged.

Apple retreated on Tuesday, after ending at a new historic high and officially became the most valuable companies in the U.S. history in the previous session, as its shares were hit by a rare downgrade.

Shares of Apple tumbled and fell 1.4 percent after Oracle Investment Research cut its rating on the iPhone maker to "hold" from "buy."

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It was though that the ECB might come together and work with the bond industry based in Europe. This will bring the system down and save money.


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It is really well anticipated that the ECB would choose to interfere bond markets of European nations; serving to push downcast deriving trusts these days.

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