S&P 500, Nasdaq end lower; BoE comments add to market jitters late



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Amgen jumps on report of Morgan Stanley upgrade

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IMF expects U.S. growth this year to be a meager 1.6%

(Updates to close)

By Caroline Valetkevitch

NEW YORK, Oct 11 (Reuters) - The S&P 500 and Nasdaq ended lower on Tuesday, with indications from the Bank of England that it would support the country's bond market for just three more days adding to market jitters.

Stocks were also volatile ahead of U.S. inflation data and the start of third-quarter earnings later this week.

Bank of England Governor Andrew Bailey told pension fund managers to finish rebalancing their positions by Friday when the British central bank is due to end its emergency support program for the country's bond market.

"What caused the latest downturn was an announcement the Bank of England was going to stop supporting the gilt (UK bonds) market in three days," said Randy Frederick, managing director, trading and derivatives at Charles Schwab in Austin.

Earlier on Tuesday, the Pensions and Lifetime Savings Association urged the BoE to extend the bond-buying programme until Oct. 31 "and possibly beyond."

According to preliminary data, the S&P 500 .SPX lost 24.86 points, or 0.69%, to end at 3,587.53 points, while the Nasdaq Composite .IXIC lost 114.28 points, or 1.08%, to 10,427.83. The Dow Jones Industrial Average .DJI rose 23.13 points, or 0.08%, to 29,226.01.

Amgen Inc AMGN.O shares jumped and gave the Dow its biggest boost, after a report that Morgan Stanley upgraded the drugmaker's stock to "overweight" from "equal weight."

Adding to recent fears about the economy, the International Monetary Fund predicted a meager 1.6% growth in the U.S. economy this year.
Additional reporting by Sinead Carew in New York, and Shreyashi Sanyal, Ankika Biswas, Devik Jain and Bansari Mayur Kamdar; Editing by Anil D'Silva, Arun Koyyur and Deepa Babington

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