Stocks Down on Bernanke's Statements (NWSA, GM)

Major indices were down by around half of a percent today, as pessimistic comments by Federal Reserve Chairman Ben Bernanke made investors wary. Bernanke told the public not to expect very strong job growth in 2012, and that the big drop since September had come as a surprise to him. On the other hand, estimated GDP growth from Q4 2011 was revised up, to a 3 percent annualized rate. In corporate news, James Murdoch will be stepping down from head of News International, the scandal-laden UK wing of News Corps' (NWSA) business.
General Motors (GM) bought a 7 percent stake in a french automaker, as part of a broad alliance to lower their operating costs.

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Published on Feb 29, 2012
By InvestorGuide Staff

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