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Kiplinger
Kiplinger
Business
Dan Burrows

Stock Market Today: Markets Stumble After Powell Pushes Back on Rate Cuts

US Federal Reserve Jerome Powell United States Goldman Sachs Nvidia José Torres Dow Interactive Brokers NVDA
Stocks red market down.

Equities took a break Monday from their recent red-hot run after Fed Chief Jerome Powell pushed back on expectations for interest rate cuts coming in the first half of 2024.

The broader market ended last week at record levels, boosted by a blowout jobs report and better-than-expected quarterly earnings from the likes of Magnificent 7 stocks such as Meta Platforms (META) and Amazon.com (AMZN), among others.

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