Bloomberg News

U.S. Stocks Drop as Bernanke Spurs Concern Economy Is Slowing

June 20, 2012

Federal Reserve Chairman Ben S. Bernanke

Ben S. Bernanke, chairman of the Federal Reserve. Photographer: Andrew Harrer/Bloomberg

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.

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net


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