The central bank won’t be pivoting any time soon, which could be particularly painful for pricey growth stocks. Read More...
MarketWatch
Dow skids 750 points, putting it on pace for worst daily drop since mid-June
The stock-market selloff was intensifying Friday afternoon following Federal Reserve Chairman Jerome Powell’s terse speech at Jackson Hole vowing to fight inflation until the battle has been won by bringing the annual cost of living back down to the central banks’s 2% target. The Dow Jones Industrial Average was down 740 points, or 2.2%, near 32,549, at last check. That would mark its worst daily percentage decline since June 16, when it tumbled 2.4%, according to Dow Jones Market Data. The S&P
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