The S&P 500 lost 78.65 points, or 1.32%, to end at 5,870.52 points, while the Nasdaq lost 429.11 points, or 2.25%, to 18,678.54. The Dow fell 306.30 points, or 0.70%, to 43,444.56.
NEW YORK: Wall Street's main indices closed lower on Friday after Federal Reserve chair Jerome Powell pointed to a slower pace of interest-rate cuts and investors reacted to cabinet selections by US President-elect Donald Trump.
Powell on Thursday cited ongoing economic growth, a solid job market, and inflation above the US central bank's 2% target as reasons it can afford to be careful with the pace and scope of future rate cuts.
Already a subscriber? Log in.
Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
