Go Finance Reporting in NEW YORK - The stock market is the United States (U.S.) again closed lower for the fifth time since triggered a statement from the governor of the U.S. central bank (Federal Reserve) Ben Bernanke.
Actually, the stock market began to show signs will be strengthened because the stock index began its lowest level in two months in the previous session. But Bernanke's statement reversing the sentiment.
Bernanake acknowledges the economic slowdown, but he did not provide a solution. He said the central bank was considering further monetary stimulus measures to support economic growth.
Bernanke also issued a stern warning to lawmakers in Washington who is considering budget cuts to make aggressively. He said the members of this council has the potential to derail the economic recovery.
"It should not be like that, the market expects a positive comment from him. But even this impact is negative. But I think the impact will be limited. I do not see this will also affect the market tomorrow," said managing director at Wedbush Morgan as quoted by Stephen Massocca Reuters in San Francisco.
Bernanke indicates the latest bout of economic weakness may not last long and must give way to some growth in the second half of this year.
In late trading on Tuesday (06/07/2011) local time, the Dow Jones industrial fell 19.15 points, or 0.16 percent, to 12070.81. The broader Standard & Poor's 500 index dropped 1.23 points, or 0.10 percent to 1284.94. The Nasdaq Composite Index fell 1.00 points, or 0.04 percent, to 2701.56. (GoFinance)
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