Federal Reserve Chairman Jerome Powell’s information convention did little to blunt the inventory market’s slide.
The Dow was down 780 factors, or 1.8 %, after Powell completed the query and reply portion of his information convention. The S&P 500 was down 2.3%. The Nasdaq Composite was down 3.2%.
Solely 46 shares within the S&P 500 had been greater, which might prolong the index’s unfavourable streak to 13 days. The Dow would additionally prolong its dropping streak to 10 days, which is its longest day by day dropping streak since 1974.
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