US stocks sink on Powell rate-cut caution, Trump cabinet picks
Sat, Nov 16, 2024 10:40 AM

US stocks sink on Powell rate-cut caution, Trump cabinet picks

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Wall Street's main indexes closed lower on Friday, with the S&P 500 and Nasdaq notching their biggest one-day losses in two weeks, on concerns about slower interest-rate cuts and as investors reacted to cabinet picks by U.S. President-elect Donald Trump. Federal Reserve Chair Jerome Powell on Thursday cited ongoing economic growth, a solid job market, and inflation.

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