Wall Street drifting lower

March 3, 2009 9:16:41 AM PST
Investors are selling stocks as Federal Reserve Chairman Ben Bernanke tells Congress an economic recovery depends on the government's ability to stabilize weak financial markets. [CHECK THE MARKETS: Get the latest numbers from Wall Street]
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Bernanke's comments come as the central bank announces it will begin lending up to $200 billion initially to spur consumer and small business borrowing for autos, education, credit cards and other expenses. The Fed announced the plan late last year.

An early rebound in stocks gave way to more selling as investors found little in Bernanke's remarks to make them optimistic about the economy. On Monday, the Dow Jones industrials fell below 7,000 for the first time since May 1997.

The Dow is down 31 at 6,730. The Standard & Poor's 500 index is down 5 at 695, falling below the 700 mark.

The Nasdaq composite index is down 5 at 1,318.

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