Economic uncertainty overshadowed a peaceful and early transfer of power in Iraq today, cutting off a rally and leaving stocks modestly lower while investors fretted about the Federal Reserve’s imminent decision on interest rates.

Investors’ growing dread of higher interest rates sent stocks sliding sharply in the United States today, with a solid retail sales report and expectations of higher inflation providing the latest catalyst for a sell-off.

Just days before key hearings in Brussels, Microsoft Corporation said today it was still seeking an amicable settlement of its antitrust case with the European Union.