US stocks close down

Stocks pulled back today after the Commerce Department reported that the US economy grew at the slowest pace in more than three years and stirred concern that a desired soft landing in the economy might prove elusive.

Investors have bid up stocks sharply in October on the notion that while the economy is slowing, but not in a way that would threaten corporate profits and consumer spending. Investors are also counting on a gradual slowdown to reduce the threat of inflation and convince the Federal Reserve to lower short-term interest rates.