Brandon Bell/Getty Images; iStock; Rebecca Zisser/BI
The stock market’s surge following the election of Donald Trump has been significantly reduced.
The shift occurred after Federal Reserve Chair Powell indicated a cautious approach to rate cuts.
With strong economic indicators and doubts about the need for a December rate cut, investors are reevaluating their expectations.
In a swift turn of events, much of the market gains seen post-Trump’s election have vanished.
On Friday, major US indexes experienced a sharp decline, led by the Nasdaq, as investors adjusted to the possibility of no rate cut in December.
The pivotal moment came on Thursday when Federal Reserve Chair Jerome Powell emphasized patience in considering rate cuts due to positive economic signals.
< p class = " y f - 1 pe 5 j gt "> Stocks declined in afternoon trading and continued to fall on Friday. The S&P 500 dropped by up to 1.6%, erasing more than half…
2024-11-16 00:10:01
Original from finance.yahoo.com
