June 21, 2013- The Federal Reserve chairman clearly spooked the market this week. Simply hinting that the Fed might wind down its stimulus program later this year was enough to lead to another week of losses.
The three major U.S. stock market indexes ended the week down between 1.8% and 2.1%.But the Dow Jones Industrial Average and the S&P 500 finished Friday up 0.3%, after spending part of the day down. The Nasdaq closed down 0.2%.
On Wednesday and Thursday, the Dow shed more than 550 points, and stocks stayed on rocky ground Friday.
Bernanke's words have kept bond yields jumping. The 10-year Treasury yield hit nearly 2.54% Friday.
Investors have been bailing out of bonds and sending yields higher over the past month amid speculation that the Fed will soon taper its monthly bond purchases, known as quantitative easing...
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