Tuesday, October 16, 2007

Bernanke's Comments Weigh Down Markets

Comments by Fed chief Ben Bernanke that the ailing housing market weighs down the economy sent the markets tumbling during the midday with the Dow falling 57 points to 13,928. Nasdaq dropped 7 points to 2773 while S&P 500 lost 5 points to 1543. The 30-year bond edged up as the yield eased to 4.901%.

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