Aug 10, 2011 11:33 AM by Trovette Tottress

US stocks drop, attention returns to weak economy

NEW YORK (AP) -The rally that sent stocks soaring in the last half hour of trading yesterday isn't continuing today. The Dow has been down by more than 400 points in morning trading, erasing nearly all of the gain from yesterday. One analyst says investors are still trying to figure out if there will be "a double-dip recession or just a slowdown." The Federal Reserve yesterday pledged to keep its key interest rate at nearly zero into 2013. But the Fed's statement also included a dim outlook on the economy. It said growth has been
"considerably slower" than it expected and that it anticipates a slower pace of recovery.


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