Reported about 2 months ago
U.S. stocks experienced a downturn on Thursday, with the tech-heavy Nasdaq leading the losses, down nearly 1.7%, as investors anticipate a critical speech from Federal Reserve Chair Jerome Powell. The S&P 500 fell by 0.9%, while the Dow Jones slid 0.5%. The markets reacted to labor market data indicating initial jobless claims rose slightly, raising concerns about potential Federal Reserve rate cuts. Investors are now cautious, moderating previous expectations for significant rate reductions following recent economic updates.
Source: YAHOO