Powell's rate hike hints cause stock market drop
TL;DR Summary
The Dow Jones Industrial Average fell 0.3% in early trading after Fed Chair Jerome Powell affirmed that interest rates will continue to increase. Powell observed that "inflation pressures continue to run high, and the process of getting inflation back down to 2% has a long way to go." Tesla fell after a downgrade from Barclays, while Amazon slipped slightly after Jefferies raised its price target.
- Dow Jones Falls As Fed's Powell Hints 5.25% Rate Soon; Tesla, Amazon Move On Analyst Ratings Investor's Business Daily
- Stocks fall as Powell points to more rate hikes: Stock market news today Yahoo Finance
- Stocks drop to start the week as market rally stalls CNBC Television
- Dow Jones Falls 150 Points On Powell Rate Hike Comments; Tesla Stock Drops On Downgrade Investor's Business Daily
- Market Volatility Decreases; S&P 500 Settles Lower - Apple (NASDAQ:AAPL), Amazon.com (NASDAQ:AMZN) Benzinga
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