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Stocks tumble after Powell’s slower but higher cues

Stocks tumble after Powell’s slower but higher cues

U.S. stocks fell lower Thursday as Wall Street reeled from assertions by Federal Reserve Chair Jerome Powell that hopes for a policy pivot were “premature” after the central bank delivered a fourth consecutive interest rate hike of 75 basis points. The S&P 500 (^GSPC) sank 1.1% after the index plunged 2.5% in the previous session, its worst loss on a Fed day since January 2021, per Bloomberg data. The Dow Jones Industrial Average (^DJI) shed 150 points, or 0.5%, and the technology-focused… Source link

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