Nasdaq Slides over 1% after Hawkish Comments from Fed's Brainard
Reuters2022-04-05
U.S. stock indexes hit session lows on Tuesday, with the tech-heavy Nasdaq falling more than 1% after comments from U.S. Federal Reserve Governor Lael Brainard sparked worries about aggressive monetary policy tightening.
Brainard said she expects methodical interest rate increases and rapid reductions to the Fed's balance sheet to bring U.S. monetary policy to a "more neutral position" later this year.
At 11:59 a.m. ET, the Dow Jones Industrial Average was down 0.02%, at 34,915.88, the S&P 500 was down 0.36%, at 4,566.04, and the Nasdaq Composite was down 1.30%, at 14,342.93.
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