NEW YORK, Sept. 25 (Xinhua) -- U.S. stocks traded lower in the morning session on Monday as Wall Street digested comments from New York Federal Reserve President William Dudley.
Around midday, the Dow Jones Industrial Average fell 84.25 points, or 0.38 percent, to 22,265.34. The S&P 500 lost 10.44 points, or 0.42 percent, to 2,491.78. The Nasdaq Composite Index dipped 69.85 points, or 1.09 percent, to 6,357.08.
Dudley said Monday that factors restraining price pressures should disappear with time, allowing the U.S. central bank to maintain its gradual pace of monetary policy tightening, according to Bloomberg.
Inflation should pick up with "the fading of effects from a number of temporary, idiosyncratic factors," stabilizing around the Fed's 2 percent goal over the medium term, he added.
Overseas, the German elections were in focus. The conservative union led by German Chancellor Angela Merkel on Sunday defended its commanding role in the Bundestag (German parliament) with 32.5 percent of the vote, falling short of expectations with a 9-percentage-point gap compared with the election four years ago.
There is no major economic report due Monday. Enditem
