ECONOMY

Index slides for fourth time in a row

Stocks trimmed early losses yesterday but ended lower for the fourth consecutive session as profit-taking in banks eased and investors eyed European markets and the Fed’s decision on rates today. The benchmark index lost 0.34 percent to settle at 1,881.27 points, with turnover picking up to 148 million euros from Tuesday’s 124 million. Decliners led advancers 238 to 81 with 42 shares unchanged. «The correction in the last three days was reasonable. Selling pressure waned toward the end of the session as traders looked for buying opportunities, meaning the downside looks limited from current levels,» said analyst Dimitris Skapinakis at Marfin Bank. Blue chips fell 0.16 percent to 936.50 points and mid-caps ended 0.52 percent lower. Small-caps lost 1.63 percent. Dealers said many investors were hunkering down as the Federal Reserve kicked off a two-day meeting. The US central bank is expected to cut interest rates. (Reuters)