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US market response to gloomy economic outlook

07-22-2010 08:29 BJT

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Bernanke's negative comments on the US economic recovery has added to investor unease helping to drag US stocks, sharply lower on Wednesday.

Stocks sank after Bernanke acknowledged the labor market's continued weakness, while offering few specific options to stimulate lending and investment.

The Dow Jones industrial average lost 109.51 points, or about one percent. The S & P 500 fell 13.91 points, or 1.28 percent.

The downbeat remarks, sapped most of the buying interest even after a spate of strong earnings reports prior to the market's opening. Investors, have been reluctant to make big commitments in equities due to growing concern over economic uncertainties.

 

 

 

Editor:Zhang Pengfei |Source: CNTV.CN

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