Markets Shake Off Powell Rumor, Rebound Strong to Finish Near Highs

U.S. markets rebounded from a sharp midday selloff triggered by a rumor that Donald Trump would fire Fed Chair Jerome Powell. After Trump denied the claim, stocks reversed course and closed higher across the board.

🔹 Dow Jones
• Fell as much as 0.79% intraday
• Closed at 44,254.78 ▲ +231.49 (+0.53%)

🔹 S&P 500
• Dropped 0.77% during the day
• Recovered to finish at 6,263.70 ▲ +19.94 (+0.32%)

🔹 Nasdaq Composite
• Down 0.90% at session lows
• Ended at 20,730.49 ▲ +52.69 (+0.25%)

🔹 Russell 2000
• Closed at 2,226.98 ▲ +21.93 (+0.99%)

🔹 VIX
• Eased to 17.16 ▼ −0.22 (−1.27%)

A jittery session turned into a relief rally, as investor nerves were calmed by a swift denial of the Powell rumor.