In his semi-annual monetary policy testimony in front of the Senate, Federal Reserve Chairman Ben Bernanke reaffirmed the Fed’s view that the fed funds rate is likely to remain “exceptionally low” for an “extended period,” as the progress in reducing unemployment was slower than expected and that financial conditions are somewhat weaker in recent months due to fallout from the European debt crisis.
Details from Bloomberg...
The Dow Jones Industrial Average fell 109 points (1.1%) to close at 10,121, the S&P 500 Index lost 14 points (1.3%) to finish at 1,070, and the Nasdaq Composite declined 35 points (1.6%) to 2,187. Crude oil fell $1.02 to $76.56 per barrel, while the Bloomberg gold spot price decreased $6.40 to $1,185.65 per ounce.
Magnificent Seven Update
Daily Update Of Open Positions...Stocks & ETFs
