Wall St ends lower as Powell dashes rate-cut hopes

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The Star 2h ago

Wall St ends lower as Powell dashes rate-cut hopes - The Star

Quick Summary:

Wall Street's main indices closed lower on Thursday after Federal Reserve chair Jerome Powell dampened investors' hopes for another interest rate cut this year by saying the US central bank need not rush to ease monetary policy.

As of 4:13 p.m.ET, the Dow fell 207.33 points, or 0.47%, to 43,750.86, the S&P 500 lost 36.21 points, or 0.60%, at 5,949.17 and the Nasdaq dropped 123.07 points, or 0.64%, to 19,107.65.

On the Nasdaq, 1,362 stocks rose and 2,912 fell as declining issues outnumbered advancers by a 2.14-to-1 ratio.