U.S. stocks closed lower Wednesday after markets posted two days of record highs. A strong result for producer prices showed the threat of deflation fading as the U.S. economy recovers. Traders have noted a lack of breadth in upswings, with only 10% of S&P 500 stocks hitting fresh 52-week highs in the most recent breakthrough. Small caps were lower again along with tech stocks – crucial bellwethers of investor risk appetite. Mixed results continued as earnings season draws to a close, with revenue growth slowing. Traders say this will not necessarily impact stocks as loose monetary policy remains. Jane Searle reports from the NYSE
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