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Market Anticipates Powell’s Jackson Hole Speech as U.S. Stocks Decline
Market Anticipates Powell’s Jackson Hole Speech as U.S. Stocks Decline
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BTCCSquare news:
U.S. equities retreated broadly on August 21, marking the S&P 500's fifth consecutive decline, as investors braced for Federal Reserve Chair Jerome Powell's keynote at the Jackson Hole symposium. The Nasdaq Composite dipped 0.30% while the Dow Jones Industrial Average shed 150 points, reflecting mounting uncertainty around monetary policy.
Futures markets currently price in an 80% probability of a 25-basis-point rate cut at the September FOMC meeting, though July meeting minutes revealed policymakers' growing inflation concerns. Walmart's disappointing earnings further dampened sentiment, with shares tumbling 5%.
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