Bernanke Speaks – Sell-Off Continues
Source: http://Blog.QualityStocks.net/?p=12794Posted on Tuesday, October 7th, 2008 | In Small & Micro Cap
Contributed by: QualityStocks (http://QualityStocks.net) -
Federal Reserve Chairman Ben Bernanke took center-stage in the financial crisis proceedings on Tuesday, giving a speech that arguably had a negative effect on trading indeces. Bernanke basically stated the obvious: the current financial crisis plaguing the markets is not just a here-and-now problem, but rather is set to be a long-term burden on our overall economy. Stocks dropped once again as Bernanke’s speech seemed to indicate an impending interest rate cut. It seems that the bulk of investors continue to wait for some good news to come from the Fed; hoping for a glimpse of light at the end of a disconcertingly dark tunnel.
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