Stocks retreat after Powell delivers cautious message: Stock market news today

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Stocks reversed lower Friday morning after Fed Chair Jerome Powell said the central bank is 'prepared to raise rates further.'

Discover a world of exciting games, from heart-pumping action to brain-teasing puzzles. Get the latest versions of the top games in 2023. -- The drop in US stocks on Thursday despite a bumper report from Nvidia Corp. shows the rally this year is “exhausted” and portends more declines to come, according to Morgan Stanley’s Michael Wilson.

Open Society Foundations plan to significantly curtail their work in Europe and lay off much of their staff on the continent, the foundations' leaders told staff in Berlin, according to an internal email and several current employees, who say the decision is painful and perplexing.

 

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Stocks Struggle in Cautious Trading Before Powell: Markets Wrap(Bloomberg) -- European stocks and US futures struggled for direction as a cautious tone dominated markets before a speech from Federal Reserve Chairman Jerome Powell that will be studied for clues on the interest-rate outlook.Most Read from BloombergNYC’s Most Exciting New Fine Dining Restaurant Is in a Subway StationMore People Call in Sick on August 24 Than Any Other DayNasdaq 100 Drops 2% as Yields Rise Before Powell: Markets WrapTrump Surrenders in Georgia on 2020 Election Probe ChargesModi
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