Downbeat Bernanke drives down markets

clock

The FTSE 100 has followed the lead of the US and opened lower this morning, as investors weigh up a gloomy economic update from Federal Reserve chairman Ben Bernanke.

In early trading London's leading index of shares has fallen 31.84 points, or 0.61%, to 5,182.80. Bernanke's warning the US economy faced "unusually uncertain" prospects hit US stocks on Wednesday, with the Dow Jones IA falling 1.07% to 10,120.53. The broader S&P 500 lost 1.28% to 1,069.59 and the tech-heavy Nasdaq dived 1.58% to 2,187.33. Bernanke told the US Senate banking committee yesterday to expect several years of low economic growth. "Even as the Reserve continues prudent planning for the ultimate withdrawal of monetary policy accommodation, we also recognise that the econ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Gangbusters? Why the UK market is not exceptional, yet

Gangbusters? Why the UK market is not exceptional, yet

‘Every market turnaround has to begin somewhere’

Laith Khalaf
clock 22 May 2024 • 4 min read
Navigating the intergenerational wealth shift with tokenisation

Navigating the intergenerational wealth shift with tokenisation

'Already gaining significant traction in fund management'

Stephen Ashurst
clock 21 May 2024 • 3 min read
Future of Investment Festival: Ten key reasons for advisers to attend

Future of Investment Festival: Ten key reasons for advisers to attend

Last call to financial advisers to join us on 5 June

Professional Adviser
clock 21 May 2024 • 2 min read