US Stock Market Falls Gains of August have been fully erased
Jerome Powell reassured stock markets that the Fed will keep interest rates low until inflation is brought down to 2%.
Restoring price stability could require a sustained period of lower growth and labour market conditions will soften.
Personal spending figures for July also missed expectations:
The Dow plummeted 1,000 points, the S&P 500 and the Nasdaq fell 3.4% and 3.9%, respectfully
Tech giants had the sharpest losses, closing at one-month lows with a 9% plunge for Nvidia and 5% drop for Alphabet
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