Published 2 years ago

Powell comments fuel 1,000-point market rout Friday as stocks slide for a second week

Summary by Ground News

The Dow Jones Industrial Average was down 954 points, or 2.9%, at 32,338, as of 3:45 p.m. Eastern time. The S&P 500 was 3.1% lower, on track for its biggest drop in two months. Jerome Powell said the Fed will likely need to keep interest rates high enough to slow the economy.

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The Guardian

Dow plunges 1,000 points after Fed chief Powell warns of inflation ‘pain’

US stock markets nosedive as Jerome Powell says at top bank summit the ‘overarching focus is to bring inflation back down’

2 years ago·London, United Kingdom

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Reuters

Wall Street ends in a hole after Powell's Wyoming speech

Wall Street ended Friday with all three benchmarks more than 3% lower, as Federal Reserve Chief Jerome Powell's signal that the central bank would keep hiking rates to tame inflation nixed nascent hopes for a more modest path among some investors.

2 years ago·United Kingdom

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USA Today

Dow shaved over 1,000 points after Jerome Powell's hawkish Jackson Hole speech

The Nasdaq Composite saw the steepest losses on Friday. It closed down by nearly 4%. The S&P 500 and Dow Jones Industrial Average declined sharply

2 years ago·United States

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abc News

Federal Reserve Chair Powell vows to fight inflation 'until the job is done'

The Fed is weighing whether another large rate increase will be necessary, he said.

2 years ago·United States

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The Washington Post

Stocks sink after Fed's Powell says rates will stay high

Stocks are ending sharply lower after the head of the Federal Reserve dashed Wall Street’s hopes that it may soon ease up on rate hikes in its effort to tame inflation

2 years ago

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CNBC

Powell comments fuel 1,000-point market rout Friday as stocks slide for a second week

Stocks plummeted Friday after Federal Reserve Chair Jerome Powell said in his Jackson Hole speech the central bank won’t back off in its fight against rapid inflation.

2 years ago·United States

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