Dow Closes Down 80.86 on Inflation Scare

Bernanke comment, retail profit warnings contribute to slump
By Dustin Lushing,  Newser Staff
Posted Jun 5, 2007 2:55 PM CDT
Dow Closes Down 80.86 on Inflation Scare
'   (Associated Press)

(Newser) – The Dow fell 80.86 points today, closing at 13,595.46 after companies in the retail sector issued warnings of reduced profits and Fed chairman Ben Bernanke commented that inflation risks are still high. "There are a lot of little things out there that are scaring the market," a trader told the Wall Street Journal.

Wall Street has enjoyed a long bull run in the past two months, powered by mergers, global growth, and strong corporate profits. Notwithstanding today's slide, Bernanke's forecast was positive; he predicted "the economy to advance at a moderate pace, close to or slightly below the economy's trend rate of expansion." (Read more Dow Jones stories.)

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