Wall St slumps as Bernanke warns on inflation

At the close, the S&P 500 index was down 1.8 per cent, or 22.93 points, at 1,265.29, and the Nasdaq Composite was down 2.2 per cent, or 49.79 points, at 2,169.62. The Dow Jones Industrial Average was down 1.8 per cent, or 199.15 points, at 11,048.72, its lowest level in 12 weeks.