US Close 28 Feb 18: Markets eased on rate fears and higher US dollar

US sharemarkets fell on Tuesday. Investors digested the testimony delivered by the new Federal Reserve chief. The US Federal Reserve chair, Jerome Powell, delivered his first testimony to Congress. Powell indicated that the US economy had strengthened since December and he had confidence that inflation would rise as 'transitory' influences receded. The Comcast bid for Sky was in focus as well as earnings figures from Macy's. At the close the Dow Jones was lower by 299 points or 1.2%. 

 

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