The sleeping baby has woken up.
The Dow Jones Industrial Average has dropped 102.09 points, or 0.7%, to 15348 today.
REUTERS The Dow fell as St. Louis Fed Chief James Bullard spoke in Paducah, Kentucky. Reuters has the details:
Low U.S. inflation is a concern and it has not begun to head higher, a senior U.S. Federal Reserve official said on Wednesday, adding that inflation was one of the factors under scrutiny as policymakers weigh tapering monthly bond buys.
“Inflation has been running very low. I have been concerned about low inflation,” St. Louis Fed President James Bullard told a Rotary Club luncheon in Paducah, Kentucky. There has “not been much indication, so far, that it has been ticking back up toward target,” he said.
Bullard is scheduled to speak again at 3:15 p.m. Eastern time today.
Today’s big Dow losers include the Home Depot (HD), which has dropped 2.5% to $77.44, Johnson & Johnson (JNJ), which has fallen 2.4% to $90.81, and Boeing (BA), which is off 1.6% at $104.56 after a new problem with its 787 jet was discovered. Bank of America (BAC) is the only Dow component trading up more than 1%–it’s gained 1.1% to $14.68.
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