The Fed chair, Jerome Powell, said there was still ground to cover before the central bank reached a level of interest rates that would achieve the goal of reducing inflation to target levels. The Dow Jones index traded in a 932 point range before ending lower by 505 points or 1.6%. The S&P 500 index fell by 2.5% and the Nasdaq index fell by 366 points or 3.4%.
This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399...
The Fed chair, Jerome Powell, said there was still ground to cover before the central bank reached a level of interest rates that would achieve the goal of reducing inflation to target levels. The Dow Jones index traded in a 932 point range before ending lower by 505 points or 1.6%. The S&P 500 index fell by 2.5% and the Nasdaq index fell by 366 points or 3.4%.
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