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.
3 months ago·New York, United States

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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.

3 months ago·United Kingdom
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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’

3 months ago·London, United Kingdom
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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

3 months ago·United States
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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.

3 months ago·United States
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Stocks Plunge After Fed Chair Warns of ‘Pain’ From Inflation Fight

The S&P 500 fell 3.4 percent, its worst daily showing since mid-June, after the Federal Reserve chair spoke about the path ahead for monetary policy.

3 months ago·New York, United States
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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

3 months ago·Washington, United States
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