Stocks Lose Gains Just Before Closing
After the Federal Reserve and banks added more cash than normal their banking systems Wall Street gave up a moderate gain in late trading and closed lower on Monday. The reason for the actions of the Federal Reserve and the banks was to help investors set aside some concerns about credit tightness.The New York Fed, which carries out the central bank’s market operation, minutes after the opening bell announced $2 billion in overnight repurchase agreements.