World stocks fall, dollar gains on Powell comments

NEW YORK - Global equities lost ground on Wednesday, snapping a three-day winning streak after the U.S. Federal Reserve held rates steady as expected but comments from Fed Chairman Jerome Powell cast doubt on whether the central bank’s next move would be a rate cut.

Stocks initially added to gains, U.S. Treasury yields fell and the dollar stayed weaker after the statement. However, all reversed course after comments from Powell suggesting a recent decline in inflation could be transitory. “So the fact that he’s basically saying we aren’t closer to a cut then we were before made the market selloff a few points.”

Still, reports on construction spending and U.S. manufacturing came in weaker than expected, sending conflicting signals about the strength of the economy.

😭😭😔 just crushed my account... that was a sharp fall

Stock stock

Selling stocks today is always a bad idea when looking back at that sale 15 years from now.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

World stocks are slumping as bad economic data point to a global slowdownAsian, European and US stocks fell on Thursday as weak German, French, and South Korean data offset earnings beats by Microsoft and Facebook.
Source: BusinessInsider - 🏆 729. / 51 Read more »

World stocks slip, euro suffers, growth fears lingerWorld equity markets slipped on Thursday amid worries on global growth and as in... Buy Bitcoin while it's cheap. Next decade or two is going to be a rough ride for the global economy.
Source: Reuters - 🏆 2. / 97 Read more »

Stock market sinks to session lows after Fed's 'patient' policy statements, Powell news conferenceU.S. stock indexes on Wednesday saw losses for the session deepen with less than a half-hour left in trading, following the conclusion of the Federal...
Source: MarketWatch - 🏆 3. / 97 Read more »

Powell has to walk verbal tightrope as market could pounce on interest-rate clues in either directionFed Chairman Jerome Powell will try not to make many waves and stick to a “on-hold” policy posture at his press conference on Wednesday as the market remains...
Source: MarketWatch - 🏆 3. / 97 Read more »