Did Jerome Powell just bust the stock market rally?

Federal Reserve Chair Jerome Powell has the power to make or break markets these days. On Wednesday, he opted to disappoint.

News: What you need to know about the markets     Did Jerome Powell just bust the stock market rally? Federal Reserve Chair Jerome Powell has the power to make or break markets these days. On Wednesday, he opted to disappoint. Read more »   Glencore fined $314 million for 'endemic' bribery of African oil officials Commodities giant Glencore has been ordered to pay a record £281 million ($314 million) penalty by a UK court for bribing officials across Africa to gain access to oil. Read more »   Netflix launches 'Basic with Ads' — its much anticipated commercial-supported plan In 2019, Netflix said in a letter to shareholders "we... are advertising free," and added that being commercial-free is a "deep part of our brand proposition." Read more »   New York Attorney General Letitia James secures $523 million from Teva Pharmaceuticals for role in opioid crisis The New York Attorney General's office announced it has secured $523 million from Teva Pharmaceuticals and affiliates for its role in the opioid crisis, effectively marking the end of the state's litigation against opioid manufacturers and distributors not currently in bankruptcy proceedings. Read more »   Bank of England fights inflation with biggest rate hike in 33 years The Bank of England raised interest rates by three quarters of a percentage point on Thursday, the biggest hike in 33 years, as it tries to contain soaring inflation even as the UK economy slides towards recession. Read more »   The Fed makes history with a fourth straight three-quarter-point rate hike The Federal Reserve approved a fourth-straight rate hike of three-quarters of a percentage point on Wednesday as part of its aggressive battle to bring down the white-hot inflation that is plaguing the US economy. Read more »

Dow Nasdaq S&P -146.51   -181.86   -39.80 32,001.25   10,342.94   3,719.89 -0.46%   -1.73%   -1.06% YTD -11.94%   YTD -33.89%   YTD -21.95%

Biggest Winners Royal Caribbean Cruises Ltd +8.28%   Air Products and Chemicals Inc +7.69%   Ball Corp +6.65%   Boeing Co +6.34% Biggest Losers Lincoln National Corp -33.15%   Fidelity National Information Services Inc -28.05%   Lumen Technologies Inc -17.73%   Global Payments Inc -12.31%

Hottest ETF NYSE Market Volume

Key Market Stats Latest Today's Change Oil $87.92 -2.08 / -2.31% Gold $1,632.00 -18.00 / -1.09% 10-yr 4.12% +0.06 Euro $0.97 -0.01 / -0.65%

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