Stocks started the day up. By late morning, they'd fallen. Then, around lunchtime, they rose again. But as soon as they returned to positive territory, they dropped. In mid-afternoon, they surged before reversing once more to close slightly lower. With both Fed Chairman Ben Bernanke and Treasury Secretary Tim Geithner testifying on Capitol Hill, carmakers reporting dismal February sales and pending home sales falling more than expected, it was a predictably unpredictable day.
The Dow Jones Industrial Average fell 37 points, or 0.55 percent, to 6,726. The S&P 500 dropped about 4.5 points, or 0.64 percent, to just over 696. And Nasdaq declined just 0.14 percent, or 1.8 points, to 1,321. Banks weren't the biggest losers for once, as General Electric (GE) continued its slide, falling 7.7 percent to $7.01, while battered financials like Citigroup (C) and Bank of America (BAC) rebounded.
Introduction to Preferred Shares
Learn the difference between preferred and common shares.View Course »