S&P and Nasdaq fall after Warsh comments
The US stock indices, the S&P 500 and Nasdaq, declined today, Friday, after Federal Reserve Chairman Jerome Powell reaffirmed that the central bank will continue to focus on combating inflation, increasing the likelihood of interest rate hikes. The S&P 500 fell by 0.26% to 7,711.05 points, while Nasdaq declined by 0.53% to 26,400.56 points. The Dow Jones Industrial Average also continued to decline slightly, reaching 53,558.38 points, as markets await the September decision on whether to raise or keep interest rates steady.
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