(Worthy News) – U.S. stocks fell for the first time in four days Tuesday after comments from new Federal Reserve Chair Jerome Powell sent rates higher.
The new chair signaled the central bank could hike rates more than three times this year in an effort to keep the economy from overheating, sparking anxiety among equity traders.
The Dow Jones industrial average fell 299.24 points Tuesday to close at 25,410.03, with Disney and Home Depot weighing down the 30-stock index. The S&P 500 fell 1.27 percent to finish at 2,744.28 as real estate, consumer discretionaries and telecommunications pulled the broader market lower. [ Source: CNBC (Read More…) ]