Stocks drop after Fed discloses concerns about asset purchases; S&P has biggest loss of 2013

Article by: Associated Press
Updated: February 20, 2013 - 3:21 PM

NEW YORK - Stocks are closing lower on Wall Street following news that several top Federal Reserve officials are doubtful about continuing the central bank's economic stimulus.

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mxtroyFeb. 20, 13 4:43 PM

I can't believe the lack of quality information and reporting these days. Nothing but flashy headlines to increase ratings. Could you please clarify "economic stimulus"?

wowjustwowFeb. 20, 13 7:52 PM

"Economic stimulus" That means pissing away large amounts of tax dollars over and over with failed results and hoping for a different result. It can also been known as the Obama economy.

cks1950Feb. 20, 13 8:20 PM

We've got fifteen trillion dollars of GDP & we've got a fed shelling out 85 billion a month in quantitative easing. That's just slightly over a trillion dollars of play money a year. In addition to that it's expected we once again will be running a trillion dollar budget deficit which should also be counted as "stimulus". With that in mind, the CBO is projecting a whopping 1.4% increase in GDP for 2013. Anybody else see anything wrong with this picture? At the very least, if you subtract back out the quantitative easing coming from the Fed, there is no growth & we're in recession. Yep, Mr. president, now into year 5 we're sure doing fine.