Monday , April 19 2021

Sales on US stock markets intensified after Powell’s speech



Wall Street

Traders talk on the trading floor.

(Photo: AP)

Frankfurt, New York The renewed jump in U.S. bond yields brought U.S. stock markets to their knees on Thursday. U.S. Federal Reserve Chairman Jerome Powell sees no recent rise in interest rates as a reason to deviate from his current ultra-loose monetary policy stance. Some investors expected signals regarding the purchase of Fed bonds given growing concerns about stock market inflation. In bond markets, yields rose sharply in response to Powell’s speech, and the dollar appreciated. Meanwhile, the stock market crash intensified.

The Dow Jones Standard Value Index lost one percent to 30,972 points. The broader S&P 500 was 1.2 percent down to 3,774 points, while the Nasdaq technology exchange index slipped 2.1 percent to 12,729 points.

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