NEW YORK, Aug 31 — Wall Street stocks rebounded early today after a three-day sell-off sparked by Federal Reserve Chair Jerome Powell’s message that more interest rate hikes are in the pipeline.
The report could be good news for the Fed as it battles surging prices, amid fears the strong labour market will cause a wage spiral and higher inflation. About 30 minutes into the trading session, the Dow Jones Industrial Average was up 0.2 per cent at 31,863.3.
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