Summary Box: Stocks close lower on Fed fears

May 22, 2013 @ 2:32 pm

(AP) - MIXED MESSAGES: Stocks surged in the early going after Fed chairman Ben Bernanke told Congress the central bank was unlikely to pull back from its stimulus programs soon. Then minutes from a Fed meeting were released that suggested other policymakers think a pullback is possible as early as next month, and stocks dropped.

BRISTOL SURGES: Bristol-Myers jumped 5 percent after a financial analyst said the company could be a big winner with cancer drugs under development.

YIELD SURGE: The yield on the benchmark 10-year Treasury note rose above 2 percent for the first time since March 14. It rose to 2.03 percent from 1.93 percent the day before.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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