JeeYeon Park
cnbc.com
June 19, 2013
Stocks accelerated their selloff in the final hour of trading to end near
session lows Wednesday, after the Federal Reserve said it will maintain its
bond-buying program, though Chairman Ben Bernanke hinted that the FOMC plans to
moderate purchases later this year.
“They don’t tie themselves officially into anything but it’s clearly what
they’re going to do,” said Jim Paulsen, chief investment strategist at Wells
Capital Management. “I think he’s more clearly said today than at any other time
that he’s going to taper before the end of the year, and there’s a possibility
he could be done by the middle of next year.”
The Dow Jones Industrial Average tumbled more than 200 points, wiping out
most of its gains from the last two sessions. The blue-chip index logged its
seventh-straight triple-digit move.
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Wednesday, June 19, 2013
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