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Powell’s Speech Hammers Markets: Dow, S&P 500, Nasdaq Tumble as Fed Rate-Cut Hopes Dim
Powell’s Speech Hammers Markets: Dow, S&P 500, Nasdaq Tumble as Fed Rate-Cut Hopes Dim
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Wall Street braces for impact as Jerome Powell takes the stage—and the markets aren't waiting around to hear what he has to say.
The Dow, S&P 500, and Nasdaq all nosedived ahead of the Fed Chair's highly anticipated remarks, wiping out earlier gains and leaving traders scrambling.
Rate-cut dreams? On life support. Investors had been betting big on a dovish pivot, but Powell’s track record suggests he’d rather hike rates during a hurricane than admit defeat against inflation.
Another day, another reminder that the Fed talks—and the market pays. Literally.
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