Stocks Reverse Course, Drop on Worries of Fed Pullback
Tickers in this article: ^DJI ^GSPC ^IXIC TGT BMY INTU NTAP
U.S. markets erase morning gains and firmly dip into negative range as some Fed members hint at scaling back by June.
05/22/13 - 04:17 PM EDT
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Volume Leaders
NYSE
| Company | Symbol | Last | %CHNG | Volume |
|---|---|---|---|---|
| Bank of America Corporation | BAC | 13.31 | -0.97 | 172.98 M |
| Pfizer Inc | PFE | 29.30 | 1.81 | 81.90 M |
| General Electric Co | GE | 23.86 | 0.85 | 67.99 M |
| Ford Motor Co | F | 14.97 | 0.13 | 66.56 M |
| JPMorgan Chase & Co | JPM | 53.63 | 1.15 | 46.78 M |
| Citigroup Inc | C | 51.00 | -1.28 | 43.89 M |
| Merck & Co Inc | MRK | 46.71 | -1.31 | 42.46 M |
| Nokia Oyj | NOK | 3.64 | -2.67 | 35.92 M |
| Boston Scientific Inc. | BSX | 9.13 | -1.08 | 32.66 M |
| Rite Aid Corporation | RAD | 2.82 | -2.42 | 30.35 M |
NASDAQ
| Company | Symbol | Last | %CHNG | Volume |
|---|---|---|---|---|
| Microsoft Corporation | MSFT | 34.61 | -0.69 | 65.49 M |
| Micron Technology Inc. | MU | 10.92 | -2.76 | 51.68 M |
| Intel Corp | INTC | 24.07 | -0.33 | 47.40 M |
| Cisco Systems Inc | CSCO | 23.34 | -2.79 | 46.37 M |
| Sirius XM Radio Inc. | SIRI | 3.54 | 0.57 | 45.35 M |
| Facebook Inc Class A | FB | 25.16 | -1.95 | 45.09 M |
| Clearwire Corp | CLWR | 3.38 | -0.59 | 44.83 M |
| NetApp Inc. | NTAP | 37.28 | 1.77 | 36.12 M |
| Oracle Corporation | ORCL | 34.12 | -2.79 | 33.47 M |
| Zynga Inc Class A | ZNGA | 3.40 | -1.45 | 25.03 M |
AMEX
| Company | Symbol | Last | %CHNG | Volume |
|---|---|---|---|---|
| Novagold Resources Inc. | NG | 2.20 | -0.45 | 6.58 M |
| Cheniere Energy Inc | LNG | 29.77 | -1.72 | 6.35 M |
| Allied Nevada Gold Corp | ANV | 7.50 | -1.96 | 4.62 M |
| Rexahn Pharmaceuticals Inc. | RNN | 0.39 | 10.75 | 4.20 M |
| New Gold Inc. | NGD | 6.64 | 1.53 | 4.11 M |
| Rentech Inc. | RTK | 2.15 | -4.44 | 3.67 M |
| Golden Star Resources Ltd. | GSS | 0.65 | -1.50 | 2.24 M |
| China Shen Zhou Mining & Resources Inc. | SHZ | 0.17 | 21.71 | 2.17 M |
| Inovio Pharmaceuticals Inc. | INO | 0.70 | -1.05 | 2.02 M |
| Claude Resources Inc | CGR | 0.26 | -1.50 | 1.74 M |
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Latest Market Update
04:17PM 05/22/13
NEW YORK (TheStreet) -- U.S. markets on Wednesday erased morning gains, falling sharply after theFederal Reserve's minutes from its latest policy-making meeting showed that some members are open to scaling back monetary stimulus by June.
The minutes came hours after Fed Chairman Ben Bernanke reiterated his support of current monetary policy and argued that a pull-back in quantitative easing wouldn't be a prudent move.
"A number of participants expressed willingness to adjust the flow of purchases downward as early as the June meeting if the economic information received by that time showed evidence of sufficiently strong and sustained growth," the minutes said. ...
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