Major US stock on Thursday erased the gains from the day before despite Warren Buffet's 5-billion-dollar investment in struggling Bank of America. Investors continued to be nervous over an anticipated speech by Federal Reserve chairman Ben Bernanke in Wyoming, where he is to address global central bankers and the broader banking community. Investors are looking for another commitment from Bernanke to a new economic stimulus, but that is deemed increasingly unlikely in light of growing inflation and economic growth, even if it is meagre. The blue-chip Dow Jones Index shed 170.89 points, or 1.51 per cent, to 11,149.82. The broader S&P 500 Index dropped 18.33 points, or 1.56 per cent, to 1,159.27. The technology-heavy Nasdaq Composite Index lost 48.06 points, or 1.95 per cent, to 2,419.63, pulled down by Steve Jobs' shock announcement late Wednesday that he was stepping down as head of Apple. The US currency edged up against the euro to 69.53 euro cents from 69.38 euro cents on Wednesday. The dollar was stronger against the Japanese currency at 77.51 yen from 76.97 yen.
