Wall Street Declines Amid Rate-Cut Concerns and Trump's Cabinet Choices

Reported 8 days ago

On Friday, Wall Street's major indexes saw significant declines, with the S&P 500 and Nasdaq experiencing their largest losses in two weeks due to concerns over prudent interest-rate cuts outlined by Federal Reserve Chair Jerome Powell and reactions to President-elect Donald Trump's cabinet selections. Investors are now adjusting expectations for future rate changes, following recent economic data pointing to sustained growth and inflation. The week's trading reflected a shift in focus from the pro-business sentiments following Trump's election to anxieties around monetary policy and inflation risks, culminating in notable losses across key sectors.

Source: YAHOO

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