Sept. 8 (Bloomberg) — U.S. stocks fell, after the biggest gain in two weeks for benchmark gauges, as Federal Reserve Chairman Ben S. Bernanke failed to offer any specific new plans to bolster growth in the world’s largest economy.
Financial and industrial shares had the biggest losses in the S&P 500 within 10 groups. Bank of America Corp. and Boeing Co. fell at least 2.9 percent, pacing declines in companies most-tied to the economy. Dollar General Corp. slumped 5.4 percent after saying that holders will sell 25 million shares.
The Standard & Poor’s 500 Index lost 0.8 percent to 1,189.39 at 2:35 p.m. in New York. The Dow Jones Industrial Average declined 76.63 points, or 0.7 percent, to 11,338.23. As in a speech on Aug. 26 in Jackson Hole, Wyoming, Bernanke stopped short of signaling what he thinks is the Fed’s best option to aid the economy.
“It’s a little disappointing,” Bruce McCain, who helps oversee $22 billion as chief investment strategist at the private-banking unit of KeyCorp in Cleveland, said in a telephone interview. “Like he didn’t even care to put anything new out there. Investors are grasping for some clear indication of where we are going to be moving and there just isn’t enough to provide that clarity.”
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