⚠️BREAKING: *U.S STOCKS DECLINE AS HAWKISH POWELL DOUBLES DOWN ON INFLATION FIGHT $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸
- Wall Street's main indexes fell on Wednesday as Federal Reserve Chair Jerome Powell remained firm in bringing inflation back to 2% target, spurring worries of more monetary tightening.
Money markets still expect only one rate hike of 25 basis points in July by the U.S. central bank for the rest of the year, according to CMEGroup's Fedwatch tool. All S&P 500 sub-sectors fell, with the rate-sensitive real estate sector leading the declines, with a 0.8% drop.
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