Dow down 250 points as stocks erase Powell-inspired bump

After briefly rallying to their highest levels of the session, U.S. stocks have sunk back into the red Tuesday afternoon in New York as gains inspired by Fed Chairman Jerome Powell’s latest commentary have faded. The Dow Jones Industrial Average DJIA, -0.02% fell 250 points, or 0.8%, to 33,640, while the S&P 500 SPX, +0.38% fell 0.2%, and the Nasdaq Composite COMP, +0.66% fell 0.5%.

Earlier, the blue-chip gauge had risen more than 200 points as investors initially cheered what market strategists described as a dovish tone from Powell. During comments at the Economic Club of Washington D.C., the Fed chair struck a dovish tone has he demurred when asked about how Friday’s blockbuster jobs report impacted policymakers’ thinking, while reiterating that disinflation had begun.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

U.S. stocks climb, Dow turns positive as Powell speaks in WashingtonU.S. stocks are reacting positively Tuesday to Fed Chairman Jerome Powell’s responses during a discussion at the Economic Club of Washington D.C. After...
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock futures slide to start week with more earnings and a Powell speech aheadU.S. stock futures were lower to start trading as investors awaited more earnings and an important speech from Federal Reserve Chairman Jerome Powell. Speech speech 😍
Source: CNBC - 🏆 12. / 72 Read more »

STOCK MARKET NEWS: Fed’s Powell speech, Bed Bath & Beyond latest, Boeing job cutsFed chair Jerome Powell speaks, Bed Bath & Beyond shares active, BP hits milestone as Boeing announces 2,000 job cuts. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move. Recession
Source: FoxBusiness - 🏆 458. / 53 Read more »