The Bloomberg Washington D.C. Area Stock Index is a capitalization-weighted index designed to measure the performance of the D.C. area economy. All of the index members are headquartered in either Washington D.C., Maryland, or Virginia. The index was developed with a base value of 100 as of December 29, 1995.
U.S. stocks fell, dragging the Standard & Poor’s 500 Index to its biggest loss in two months, as speculation the Federal Reserve may scale back stimulus amid faster-than-estimated economic growth overshadowed a move by the European Central Bank to cut a key interest rate.
Most stocks in Europe fell as an unexpected European Central Bank interest rate cut pointed to prolonged weak growth in the region and stronger U.S. economic data fueled speculation the Federal Reserve may reduce the pace of its bond buying in the coming meetings.