Fed Chairman Jerome Powell’s hawkish comments pushed stocks in US markets down on Thursday, with The Fed Chairman refers to a half-Point rate Height.
Stock opened higher following good results From Tesla and optimistic comments from leading Airlines. But the markets reversed course in the mid-session and ended decisively as low as yield on 10-year US Treasuries rose above 2.9%.
Federal Reserve Chairman Jerome Powell, who Referred to the center of the United States bank You will have to move more vigorously to face record Inflation in the United States, frankly said a half- point of interest rate The increase ison Table” for next months policy Meeting.
“It is appropriate, in for me viewTo be moving Little more quickly. and me also I think there is something in The idea of Front loading no matter where you live one Powell said during one of the debates: on The global economy hosted From the International Monetary Fund (IMF) on side lines of Spring meetings.
The comments came after comments from a senior European Central Bank (ECB) chief that opened the door to faster interest rate walking long distances.
“Today, you can basically say that for “Stocks and bonds, it’s all about the ECB and the Fed,” said LBBW’s Karl Heiling.
The Dow Jones Industrial Average is over down 1.1% at 3,4792.76.
The broad-based S&P 500 index fell 1.5% to close at 4,393.66, while techThe Nasdaq Composite Index fell 2.1% to 13,174.65.
Tesla rose 3.2% as it reported a record $3.3 billion quarterly profit and another strong forecast year of Produce growth in 2022 despite ongoing supply chain problems.
Twitter rose 0.7% after Tesla CEO Elon Musk announced He had lined up up enough funding for acquire The social media The company said he was considering a tender offer directly for shareholders.
United Airlines shares jumped 9.3 percent and American Airlines 3.8 percent after companies reported an upside rally. second-quarter Aspirations in the middle of the return in Travel demand.
But Disney fell 2.4% after the Florida legislature repealed self-governance status of Orlando theme park in a move It is widely seen as revenge for bitter row in the state over What became known as the “Don’t Say Like Me” Law.
