U.S. stocks fell Monday after Federal Reserve Chairman Jerome Powell said policy makers could lift interest rates by more than a quarter of a percentage point in the future. The Dow Jones Industrial Average ended with a loss of around 202 points:
U.S. stocks fell Monday after Federal Reserve Chairman Jerome Powell said policy makers could lift interest rates by more than a quarter of a percentage point in future meetings as they battle inflation that was already running too high before the Russia-Ukraine war pushed up commodity prices.
Equities finished well off session lows, however, trimming losses ahead of the closing bell. The Dow Jones Industrial Average DJIA, -0.58% ended with a loss of around 202 points, or 0.6%, near 34,553, according to preliminary figures, after falling more than 400 points at its session low. The S&P 500 SPX, -0.04% finished around 2 points lower, a loss of less than 0.1%, near 4,461, while the Nasdaq Composite COMP, -0.40% shed around 55 points, or 0.4%, to close near 13,838.
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