Apr 2004 Financial News

US - Stocks Fall on Greenspan's Comments

Apr 21, 2004

Market Summary
U.S. stocks fell sharply in the last hour of trading Tuesday in response to Federal Reserve Chairman Alan Greenspan's remarks to Congress. In the first of his two days before Congress, Greenspan said that banks are already prepared for higher interest rates. Investors will pay close attention to the Fed Chief's comments tomorrow, when he addresses interest rates more directly in front of the Joint Economic Committee. The Nasdaq was particularly hard hit, dropping more than 2 percent.