Stocks fall slightly as investors turn to gold, Treasurys in the absence of economic news
By APWednesday, September 22, 2010
Stocks slip as traders move to gold, Treasurys
QUIET DAY IN THE STOCK MARKET: Stocks fell slightly as a lack of economic and corporate news gave investors little incentive to buy stocks. The Dow Jones industrial average fell 21.
GOLD, ON THE OTHER HAND: The metal hit a new record price of $1,298.00 an ounce during the day, then settled slightly lower at $1,291.01.
AND BONDS ROSE ON THE FED’S COMMENTS: Traders interpreted a statement Tuesday by the Federal Reserve as meaning that the central bank could step up its bond-purchasing program. The price of the benchmark 10-year note rose, and its yield fell to 2.55 percent.
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