After Fed boost, global woes hit Wall Street

Wall Street's confidence has taken a hit after losses over the past week with investors fretting over the European and Chinese economies in the aftermath of the Federal Reserve's new stimulus package.

Traders turned to some profit taking following a spectacular rally on the back of the Federal Reserve's decision to pump 600 billion dollars into the markets in a bid to boost the US economic recovery.

Next week will see a slew of economic indicators that will once again offer investors a glimpse of the health of the US economy, including retail sales, consumer prices index, housing data and jobless claims.

For more: AFP: After Fed boost, global woes hit Wall Street