Bad News Bernanke: The Return

Everyone’s gotten a little worked up lately because the Dow hit the 13,000 mark a couple of times, but here comes Fed chief Ben Bernanke to hit us with the reality stick, or at least give our knuckles a bit of a rap, in an economic update delivered to Congress on Wednesday.  —KA

CNBC:

Stocks struggled for direction Wednesday as Bernanke dashed hopes for further monetary stimulus and as traders shrugged off the Fed’s latest report that showed the economy grew at a “modest to moderate” pace in the last two months.

The Dow Jones Industrial Average struggled to move back into positive territory, after finishing above the psychologically-important 13,000 level in the previous session for the first time since May 2008.

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Wikimedia Commons / U.S. Federal Reserve