US stocks closed lower amid concerns about global economic growth and the US Federal Reserve’s plans for unwinding its aggressive stimulus program.

At the closing bell, the Dow Jones Industrial Average fell 104.75 (0.68 per cent) to 15,304.64.

The broad-based S&P 500 gave up 11.56 (0.70 per cent) at 1,648.50, while the tech-rich Nasdaq Composite Index dropped 21.37 (0.61 per cent) to 3,467.52.

The losses came after the Organisation for Economic Co-operation and Development trimmed its world economic growth forecast for 2013 to 3.1 per cent from 3.4 per cent.

In addition, markets are again skittish over the US Fed’s plans for scaling back its bond-buying program, said Peter Cardillo of Rockwell Global Capital.

“The fear factor of the Fed is back in the marketplace,” Cardillo said.