Market Plunges as Investor Fear Grows Following Powell’s Comments

US stocks closed at session lows, with the Nasdaq index experiencing significant losses. The Dow fell by 0.86%, the S&P by 1.26%, and the Nasdaq by 1.53%. The Nasdaq also saw a decline of over 3% for the trading week. The S&P's close below its 200-day moving average added to the pressure on stocks. Concerns about interest rates, geopolitical tensions, and political gridlock in Washington contributed to market anxiety. Next week, several major companies, including Microsoft, Alphabet, Meta, and Amazon, are set to release their earnings reports.