Stocks fall as Bernanke points to end of stimulus

Stocks fall as Bernanke points to end of stimulus
The stock market is falling as Federal Reserve Chairman Ben Bernanke details plans for dismantling the central bank's economic support measures.
FEB 24, 2010
The stock market is falling as Federal Reserve Chairman Ben Bernanke details plans for dismantling the central bank's economic support measures. Bernanke says in prepared remarks to a House committee Wednesday that the Fed likely will begin tightening credit by raising the interest rate it pays to banks on the money they have deposited at the Fed. [For a detailed look at the Fed's plan to pull excess liquidity from the banking system, click here]. That would lead to an increase in borrowing rates for consumers and businesses. The Fed chief cautioned that the central bank is not yet ready to boost interest rates. The Dow Jones industrial average is down 75 at 9,983 after being flat ahead of Bernanke's comments. The Standard & Poor's 500 index is down 9 at 1,062. The Nasdaq composite index is down 16 at 2,135.

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