US stocks decline after Powell's comments
The three major US stock indexes fell today after Federal Reserve Chairman Jerome Powell said additional interest rate increases may be justified in light of economic resilience and a tight labor market.
European stocks fell 1.2% to close at their lowest level in two weeks, the European STOXX 600 index (.STOXX) fell 1.19% and the MSCI index of stocks across the world (.MIWD00000PUS) fell 0.89%, and MSCI's broader index of Asia-Pacific shares fell. Outside Japan (.MIAPJ0000PUS) fell by 1.48%, and Japan's Nikkei (.N225) fell by 1.91%.
The Dow Jones Industrial Average fell by 190.23 points, or 0.57%, to 33,474.85 points. The Standard & Poor's 500 Index fell by 32.03 points, or 0.74%, to 4,282.57 points. The Nasdaq Composite Index also fell by 115.51 points, or 0.87%, to 13,198.79 points.
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