Summary Box: Stocks slide after Bernanke speech

AP News
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Posted: Sep 08, 2011 5:15 PM
Summary Box: Stocks slide after Bernanke speech

BERNANKE: Stocks gave up their morning gains after Federal Reserve Chairman Ben Bernanke offered no specific stimulus plans in a closely-watched speech on Thursday. Investors have been hoping the Fed will take additional steps to support the economy.

MIXED SIGNS: First-time applications for unemployment benefits rose more than economists were expecting. But in a hopeful sign for the economy, U.S. exports reached an all-time high.

THE INDEXES: The Dow fell 119 points, or 1 percent, to 11,296. The S&P 500 lost 13 points, 1.1 percent, to 1,186. The Nasdaq dropped 20 points, 0.8 percent, to 2,529.