Why Powell comments fuel 1,000-point market rout Friday?

2022-08-28

The day when Dow -1,000 points or -4.2%. S&P was -4% and Nasdaq was-4.4%. Why?

The Fed has signal, they will raise interest rates until inflation is defeated. Market watchers believe many central banks around the world will follow this mandate, starting from the Bank of Korea.

Stocks plummeted Friday after Federal Reserve Chair Jerome Powell said in his Jackson Hole speech the central bank won’t back off in its fight against rapid inflation, spurring investors to weigh the implications of higher interest rates kept in place for a longer time.

He pledged that the central bank will “use our tools forcefully” to attack inflation that is still running near its highest level in more than 40 years.

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$S&P 500(.SPX)$ $NASDAQ(.IXIC)$ $DJIA(.DJI)$

Modified in.2022-10-14

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Comments

Slsebast
2022-08-29
Slsebast
We gonna be seeing red for a while. Plus its September.
CharlesW
2022-08-29
CharlesW
Uncertainty in the market
- PrimRose:
  Ya
柳春叔
2022-08-29
柳春叔
‌‌‌‌人生道路坎柯多，但要懂得去生活！人生不但是以年月日计算的，事实往往是最好的日历。
craddict
2022-08-29
craddict
any chance for a reversal
Jenjorjack
2022-08-29
Jenjorjack
Will fear turns to capitulation?
Cheahkim
2022-08-29
Cheahkim
好的

Leave a comment

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