“Ye offspring of vipers, who warned you to flee from the wrath to come?” Luke 3:7

U.S. Stocks Retreat After Bernanke Says Economy May Contract

Wed, 2nd April, 2008 - Posted by Joshuah

Hmmm…..Monsanto.

From Bloomberg.com: Worldwide

U.S. stocks fell for the first time in three days after Federal Reserve Chairman Ben S. Bernanke’s prediction that the economy may contract overshadowed better- than-estimated earnings at Best Buy Co.

Microsoft Corp., Monsanto Co. and JPMorgan Chase & Co. led the Standard & Poor’s 500 Index lower a day after the benchmark for U.S. equities posted its best start to a second quarter in 70 years. Best Buy, the largest U.S. consumer electronics chain, led an advance in retailers after selling more laptops and video-game consoles. European shares pared gains after Bernanke acknowledged for the first time that the world’s biggest economy may shrink.

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Category : Economics