New York • Stocks are slipping and long-term interest rates are rising a day after the Federal Reserve said it would reduce its bond purchases.
The Dow Jones industrial average was down 26 points, or 0.2 percent, to 16,138 in the first few minutes of trading Thursday.
The Standard & Poor’s 500 fell five points, or 0.3 percent, to 1,806. Utilities stocks fell the most.
The Nasdaq composite was off 10 points, or 0.3 percent, to 4,059.
Bond prices fell, sending yields higher. The yield on the 10-y...