Afternoon Markets: Dow dips despite upbeat Bernanke

The Dow Jones was down in early trading on Wednesday despite seeing positive movement the day before...

The Dow Jones was down in early trading on Wednesday despite seeing positive movement the day before. The blue-chip index slipped 88.89 points (1.02%) to 8,651.98 as of 10am EDT, reversing any gains from the previous day which came off the back of brighter US housing data. Analysts expected the market to stay subdued until after Federal Reserve chairman Ben Bernanke's morning speech to the House Budget Committee. He called for lawmakers to commit to reducing the near $2trn budget deficit but added he believes the pace of economic contraction is slowing. Stocks seeing the biggest los...