Aug. 30 (Bloomberg) -- U.S. stocks pared losses as Secretary of State John Kerry said the nation was committed to a “diplomatic process” with Syria and any potential action taken against the nation would be limited, easing concern that attacks were imminent.
The Standard & Poor’s 500 Index was down 0.3 percent at 1,634.09 at 1:22 p.m. in New York after sliding as much as 0.6 percent during Kerry’s speech.
U.S. intelligence agencies have “high confidence” that Syrian President Bashar al-Assad’s forces used chemical weapons in an Aug. 21 attack that killed at least 1,429 people, including 426 children, Kerry said. Kerry spoke as the White House released a public version of its intelligence assessment about last week’s attack in the Ghouta area east of Damascus.
“Our choice today has great consequences,” Kerry told reporters at the State Department in Washington.
--With assistance from Bob Drummond in Washington.