Markets Slide as Fed Comments and Rate Concerns Weigh on Stocks

Wall Street experienced significant losses as investors reacted to uncertainties about the Federal Reserve's future rate decisions and the economic impact of Donald Trump's policies. Fed Chair Jerome Powell's comments on the economy's resilience and the need to continue addressing inflation led to a reduction in expectations for a December rate cut. The Nasdaq 100 fell 2.5%, erasing post-election gains, while the CBOE Volatility Index spiked 17%, indicating increased market fear. Despite the turmoil, Bitcoin rose 2.5%, and some stocks like Palantir and Disney saw gains.