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HomeRight Arrow Media CoverageRight Arrow In the NewsRight Arrow US stocks continue sell-off after Fed Chair Jerome Powell signals rates may peak at a higher level than expected

US stocks continue sell-off after Fed Chair Jerome Powell signals rates may peak at a higher level than expected

US stocks continue sell-off after Fed Chair Jerome Powell signals rates may peak at a higher level than expected

Featured: Jamie Dutta, Market Analyst, Vantage Markets

  • US stocks opened lower Thursday as the sell-off from a day earlier continued. 
  • The US dollar and bond yields both gained with investors seeking cover. 
  • On Wednesday, Fed chief Jerome Powell squashed hopes of a policy pivot following another jumbo rate hike. 

US stocks fell Thursday, with investors still digesting hawkish rhetoric from Federal Reserve Chairman Jerome Powell a day earlier.

The central bank’s fourth consecutive 75-basis-point rate hike on Wednesday was widely anticipated, but Powell said it’s still too early to pivot while and inflation remains persistent. 

Read the full article on Business Insider.