Economics
U.S. Stocks Decline on Bernanke’s Uncertain Growth Outlook
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U.S. stocks fell, ending a two-day rally, after Federal Reserve Chairman Ben S. Bernanke said the economic outlook remains “unusually uncertain” without offering additional measures to stimulate growth.
JPMorgan Chase & Co. and Bank of America Corp. lost more than 2.9 percent to help lead the Dow Jones Industrial Average lower. All 10 industries in the Standard & Poor’s 500 Index dropped. Yahoo! Inc. tumbled 8.5 percent after sales missed analyst estimates on a drop in search ad revenue. SLM Corp., the largest U.S. student lender, sank 11 percent after loan originations missed forecasts.