Stocks End Mostly Lower in Volatile Session

Worries about Fannie and Freddie overshadowed testimony from Bernanke, Paulson, and Cox, a plunge in crude, and GM's big cost-cutting plan

In a jagged, see-saw session, major U.S. stock indexes ended mostly lower, with only the Nasdaq composite index able to eke out a small gain. It was certainly a busy day, replete with congressional testimony from Federal Reserve Chairman Ben Bernanke, Treasury Secretary Henry Paulson, and Securities and Exchange Commission Chairman Christopher Cox; news of another cost-cutting plan by General Motors (GM); a plunge in the price of crude oil; data on inflation and retail sales; and a spate of major earnings releases.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.