US STOCKS-Wall Street declines on Fed, Washington uncertainty

Mon Sep 23, 2013 12:23pm EDT
 
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* Positive German, Chinese data outweighed by Fed uncertainty

* Fed's Dudley says Fed could begin tapering stimulus this year

* Apple shares jump after most successful iPhone launch ever

* BlackBerry shares fall further after change in focus

* Indexes down: Dow 0.33 pct, S&P 0.55 pct, Nasdaq 0.60 pct

By Chuck Mikolajczak

NEW YORK, Sept 23 (Reuters) - U.S. stocks fell on Monday as comments by a Federal Reserve official and a looming political deadline in Washington outweighed earlier upbeat economic data from Germany and China.

Referring to the timeline that Fed Chairman Ben Bernanke articulated in June, New York Fed President William Dudley said the framework for withdrawing stimulus is "still very much intact" as long as the economy keeps improving.

Investors were caught off guard last week when the Fed decided against reducing asset purchases from the current $85-billion monthly pace after many had anticipated a change in policy would come in September.   Continued...