Reported 11 days ago
U.S. stock markets faced a significant selloff after Federal Reserve Chair Jerome Powell's comments sparked 'incredible panic', according to CNBC's Jim Cramer. The Dow Jones dropped 2.48%, the S&P 500 fell by 2.9%, and small-cap stocks saw a 4.4% decline, erasing previous gains. Powell's announcement of a slower approach to rate cuts has heightened market concerns, evidenced by a surge in the CBOE Volatility Index.
Source: YAHOO