Nasdaq and S&P drop 1% as markets await Powell's rate signals at Jackson Hole

From Google: 2024-08-22 13:56:00

The Nasdaq fell 1% while the S&P dropped as markets awaited signals on interest rate policy from Federal Reserve Chair Jerome Powell at the Jackson Hole symposium. Investors were eager to see if Powell would provide any hints on when the Fed might start tapering its asset purchases. Tech stocks led the declines, with the Nasdaq experiencing its worst open since May. The S&P 500 was down by 0.6%, signaling caution among investors as they awaited Powell’s speech. Market watchers were focused on any indications of the Fed’s plans to address rising inflation and economic recovery.



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