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Barchart
Barchart
Rich Asplund

S&P 500 Falls from a Record High on Hawkish Powell

Powell US Federal Reserve United States Inflation Barclays ECB

The S&P 500 Index ($SPX) (SPY) Wednesday closed down by -0.29%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down by -0.25%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -0.45%.

Stocks on Wednesday gave up mid-session gains and turned lower as hawkish comments from Fed Chair Powell pushed bond yields higher and sparked the selling of chip stocks when he said the Fed was in no rush to ease monetary policy. 

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