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Updated from 7:01 a.m. EST
Stocks bounced around but ended flat on Wednesday. After a 4% market slide the day prior, investors were uninspired by Federal Reserve Chairman Bernanke's deteriorating economic outlook and President Obama's plan to revive the housing market.
The Federal Reserve cut its 2009 economic forecast, predicting that the economy will shrink by 0.5% to 1.3% and that unemployment will rise by 8.5% to 8.8%.
Meanwhile, Bernanke predecessor Alan Greenspan made headlines when he said that the temporary nationalization of banks could be the "least bad" way out of the crisis. The news sent weathered bank stocks such as Bank of America(BAC Quote) and Citigroup (C Quote) near their bear-market lows. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,441.12 | 1,109.18 | 2,206.91 | 35.96 |
Oil *
73.55
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DOWN
10.88
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UP
1.25
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UP
5.86
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DOWN
0.07
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10 Yr
3.60%
SPDR Gold
111.59
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-0.10%
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+0.11%
|
+0.27%
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-0.19%
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