The broad indexes took a breather after rallying on Thursday and rising again on Friday, following the Federal Reserve Open Market Committee's announcement that the central bank would increase its efforts to push down long-term interest rates by adding "additional agency mortgage-backed securities at a pace of $40 billion per month," to bring its total MBS securities purchases up to $85 billion per month until the end of the year.
Investors also considered European worries once again, after eurozone leaders at a weekend meeting in Cyprus made little progress on agreeing to when the European Central Banks would assume regulatory powers over the regions banks, as part of a major bailout effort.
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