Wall Street’s Main Indexes Open Lower Amid Powell’s Comments
WALL Street’s main indexes opened lower on Friday (Nov 15), after Federal Reserve chair Jerome Powell said there was no need to rush interest-rate cuts, pushing up bond yields and pressuring rate-sensitive equities.
Market Performance
The Dow Jones Industrial Average fell 162.9 points, or 0.37 per cent, at the open to 43,587.93.
The S&P 500 fell 36.4 points, or 0.61 per cent, at the open to 5,912.79?, while the Nasdaq Composite dropped 177.7 points, or 0.93 per cent, to 18,929.916 at the opening bell.
Impact on Investors
The decline in the market indexes is expected to have a significant impact on investors, particularly those who have invested heavily in rate-sensitive assets such as bonds and stocks.
Conclusion
In conclusion, the comments from Federal Reserve chair Jerome Powell have led to a decline in Wall Street’s main indexes, pushing bond yields up and pressuring rate-sensitive equities. Investors are advised to remain cautious and monitor the market developments closely.
Frequently Asked Questions
Q: What was the impact of Powell’s comments on the market?
A: Powell’s comments led to a decline in Wall Street’s main indexes, pushing bond yields up and pressuring rate-sensitive equities.
Q: Which indexes were affected?
A: The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite were all affected, with the Dow Jones Industrial Average falling 162.9 points, the S&P 500 falling 36.4 points, and the Nasdaq Composite dropping 177.7 points.
Q: What does this mean for investors?
A: The decline in the market indexes is expected to have a significant impact on investors, particularly those who have invested heavily in rate-sensitive assets such as bonds and stocks.
Q: What should investors do?
A: Investors are advised to remain cautious and monitor the market developments closely, as the situation is expected to continue evolving.
