U.S. Stocks Drop as Bernanke Spurs Concern Economy Is Slowing
U.S. stocks resumed losses as Federal Reserve Chairman Ben S. Bernanke said the central bank was too optimistic previously and the economic outlook has changed.
The Standard & Poor’s 500 Index dropped 0.3 percent to 1,354.03 at 2:25 p.m. in New York after fluctuating earlier as the Fed extended its Operation Twist program meant to reduce long-term borrowing costs.
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