US STOCKS-Wall St down as BOJ decision fuels stimulus worries

Tue Jun 11, 2013 11:22am EDT
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* BOJ keeps policy steady, disappointing investors

* Lululemon tumbles after CEO says to step down

* SoftBank raises offer for Sprint Nextel

* Dow down 0.5 pct, S&P down 0.7 pct, Nasdaq down 0.6 pct

By Angela Moon and Alison Griswold

NEW YORK, June 11 (Reuters) - U.S. stocks fell on Tuesday after the Bank of Japan chose not to take stimulus measures and increased investors' worries about the eventual decline in central bank support that has supported equities' rally.

Losses were felt broadly across sectors, with the financial and materials groups leading the way down, falling more than 1 percent each. The defensive utilities sector fared relatively better, down just 0.2 percent.

The lack of further action from BOJ rattled investors across asset classes. U.S. Treasury yields hit fresh 14-month highs, the yen rose sharply and equities dropped globally.

The reaction highlighted worries about what will happen when the global stimulus programs eventually go away. Investors have also become more nervous in recent weeks over when the U.S. Federal Reserve may slow its measures, which have been a significant driver of this year's stock market rally.   Continued...