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US Stocks Plummet as Fed Signals Interest Rate Hike: Dow Jones Falls 373 Points

The Fed eagle sounded again, Huida could not turn the tide, the Dow Jones fell 373 points, and Fei Ban collapsed by more than 3%. The picture shows Huida Company.Photo / Associated Press

On the eve of the US Federal Reserve (Fed) Chairman Jerome Powell’s speech at the global central bank annual meeting, Fed officials “hawked”, coupled with the rise in US bond yields, US stocks opened higher and lower today, the three major This is the first time since the “Black Wednesday” on August 2 after Fitch downgraded the US sovereign rating, the index has fallen by more than 1% for the first time in a week. Even with the support of Huida’s crazy financial report and outlook, it is difficult to turn the tide, and AI concept stocks generally fell.

Powell will deliver a speech at the central bank’s annual meeting on Friday, and Fed officials issued a hawkish signal on Thursday, just as the market is sensitive. Boston Federal Reserve Bank President Collins (Susan Collins) pointed out that the economic growth has not yet seen a significant slowdown, and the Fed may further raise interest rates. It is still too early to send a clear signal on the timing of interest rate cuts. In addition, former Federal Reserve hawk James Bullard said that another acceleration in economic growth this summer may prompt the Fed to delay the end of raising interest rates.

The Dow Jones Industrial Average fell 373.56 points, or 1.08%, to close at 34099.42 points.

The S&P 500 fell 59.70 points, or 1.35%, to close at 4376.31.

The Nasdaq index of technology stocks fell 257.06 points, or 1.87%, to close at 13463.97 points.

The Philadelphia Semiconductor Index fell 120.71 points, or 3.35%, to close at 3481.30 points.

2023-08-24 21:34:54
#Dow #Jones #falls #points #Fed #collapses

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