Week ending June 9: Fed chairman's comments spook markets.
Markets were spooked by comments from Fed Chairman Ben Bernanke on the growing concern of rising inflation. Investors took that as a signal for another hike in interest rates. The Morningstar US Market Index plunged 3.03% for the week ending June 9, reducing the gain for the year so far to 1.52%.
With losses ranging from 2.2% for the Morningstar Large Core Index to 5.42% for the Morningstar Small Growth Index, there was little place to hide. But large-cap and value-oriented stocks, which tend to hold on more firmly in times of high volatility, fared better than the rest of the styles.
Railroad stocks had a rough week on worries that an economic slowdown could hurt transportation revenues. Burlington Northern Santa Fe
American Medical Systems
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