S&P 500 falls amid taper talk

The S&P 500 snapped a five-day winning streak on Thursday, falling 0.5 percent.

The Federal Reserve's Jackson Hole symposium will be held on Friday but already, talk of tapering the Fed's bond purchases is sending jitters in markets.

Esther George, president of the Kansas City Fed, said on Thursday that “the level of accommodation we’re providing right now is probably not needed” and “I would be ready to talk about taper sooner rather than later”.

James Bullard, St Louis Fed president, said on Thursday: “I think we want to get going on taper. Get the taper finished by the end of the first quarter next year.”

Dallas Federal Reserve President Robert Kaplan said on Thursday: “It would continue to be my view that when we get to the September meeting, we would be well served to announce a plan for adjusting purchases and begin to execute that plan in October or shortly thereafter.”