Epic US Markets Update

The US markets slid after the Federal Reserve chairman Ben Bernanke hinted the central bank may scale back its asset purchases later this year. With the declines from the last two sessions, the Dow and S&P 500 wiped out all of their gains from May and June. The dow is down more than 5 percent since its May closing high.

The Dow Jones industrial average lost 353.87 points, or 2.34 percent, at 14,758.32. The Standard & Poor’s 500 Index was down 40.74 points, or 2.50 percent, at 1,588.19. The Nasdaq Composite Index slipped 78.57 points, or 2.28 percent, at 3,364.64.

 

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