Go Finance Reporting in NEW YORK - The stock market is the United States (U.S.) again closed lower for the sixth time in line with investor worries that the economic slowdown will make the stock market went backwards.
The latest evidence of economic slowdown comes from the Federal Reserve's Beige Book, which provides anecdotal reports of the economy. This is reinforced rating Fed Governor Ben Bernanke, he said economic growth was slowing.
The atmosphere worsened market when Bernanke did not give instructions step the U.S. central bank is then, whether the central bank will offer a third round of stimulus to the economy or not. Beige Book said the price of food becomes more expensive, so is the price of energy. This is also due to supply disruptions from the earthquake in Japan.
The stock market is still recorded a rise during the year. But the slowdown that occurred this makes the increase is growing thin. Dow on May 2 and up 10.6 percent so far this year, now only go up 4.1 percent.
S & P which recorded its highest level on May 2, due to rise 8.2 percent also now only up 1.7 percent. And Nasdaq that on May 2, up eight percent this year, now it's just a rose by 0.9 percent.
Pres-sure the stock market plummeted recently due to pressure from weak economic data, especially in the labor market. "Investors are again pessimistic after Bernanke's sure going economic slowdown," said Albion Financial Group analyst Jason L Were as quoted by Reuters in Salt Lake City, Utah.
At the close of trading on Wednesday (06/08/2011), the Dow Jones industrial fell 21.87 points, or 0.18 to 12048.94. The Standard & Poor's 500 index dropped 5.38 points, or 0.42 percent, to 1279.56. And the Nasdaq Composite Index fell 26.18 points, or 0.97 percent to 2675.38. (GoFinance)
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