Fed's Powell Signals Patience on Rates as Markets React
TL;DR Summary
The stock market experienced declines following recent inflation data and comments from Federal Reserve Chair Jerome Powell, with the Dow, S&P 500, and Nasdaq Composite all down. Industrials were particularly affected, dropping 1.7%, while the consumer discretionary sector fell 1.3%, led by Tesla's 5.2% decline. Concerns over potential government spending cuts by Elon Musk and Vivek Ramaswamy are impacting stocks with high government exposure, affecting sectors like IT, aerospace, and engineering.
- Stock Market Today: Dow Falls After Fed's Powell; Bitcoin; Cisco, Super Micro, ASML and More Movers Barron's
- Powell says the Fed doesn't need to be 'in a hurry' to reduce interest rates CNBC
- Fed's Powell: Economy "remarkably good," no need to hurry lowering rates Axios
- Stocks Show Signs of Buyer Exhaustion After Rally: Markets Wrap Bloomberg
- Watch Fed Chair Powell's Speech Here The Wall Street Journal
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