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It was a bad day for the bulls, as stocks and Treasuries each heard the worst from Federal Reserve Chairman Ben Bernanke's congressional testimony, TheStreet.com's Editor-at-Large Aaron Task says on Wednesday's Real Story podcast.
The chairman's comments that "weakness in housing and in some parts of manufacturing does not appear to have spilled over to any significant extent to other sectors of the economy," spooked stock traders because it makes a near-term rate-cut less likely.
In reaction, the Dow Jones Industrial Average fell 97 points, or 0.8%, while the S&P 500 lost 0.9%, and the Nasdaq fell 0.8%. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
|
|
DOWN
154.48
|
DOWN
19.14
|
DOWN
37.61
|
DOWN
0.48
|
10 Yr
3.23%
SPDR Gold
115.06
|
|
-1.48%
|
-1.72%
|
-1.73%
|
-1.46%
|
Data delayed 20 minutes |
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