LIVE VIDEO: WTLV Live Video_1    Watch
 
LIVE VIDEO: First Coast Living    Watch
 

Dow drops 100 after Fed official's warning

5:01 AM, Sep 26, 2012   |    comments
Getty Images
  • Share
  • Print
  • - A A A +

NEW YORK (AP) -Wall Street saw its biggest sell-off in three months after a Federal Reserve official said he doubts the bank's effort to boost economic growth would work.

Charles Plosser, president of the Fed's Philadelphia branch, told a group that the Fed's effort to support the economy will likely fall short of its goals.

If the Fed looks ineffective, he warned it could undermine future Fed action.

The Dow ended down 101 points to finish at 13,458. The S&P suffered its fourth straight session decline, down 15 points to 1,442. The Nasdaq dropped 43 points to 3,118.

 

 

 

 

 

First Coast News

Most Watched Videos