U.S. stocks lost ground in the final hour on Tuesday after Moody's downgraded Ireland's long- term rating to junk.
Major indexes got a boost in afternoon trading after the minutes from the latest Federal Reserve policy meeting showed Fed officials debated on the possibility of a third round of quantitative easing.
However, stocks lost ground after Moody's Investors Service cut Ireland's credit rating to junk status, saying the country will likely need further official financing before it can return to international capital markets.
The Dow Jones industrial average fell 58.88 points, or 0.47 percent, to 12,446.88. The Standard & Poor's 500 was down 5.85 points, or 0.44 percent, to 1,313.64. The Nasdaq Composite Index dropped 20.71 points, or 0.74 percent, to 2, 781.91.
