Stocks ended greatly lower after the head of the Federal Reserve rushed Wall Street’s hopes that it might quickly ease up on rate walkings in its effort to tame inflation.
The S&P 500 lost 3.4% Friday, its mostsignificant drop in 2 months, after Jerome Powell stated the Fed will mostlikely requirement to keep interest rates high adequate to sluggish the economy for some time in order to beat back the high inflation sweeping the nation. Tech stocks led the method lower, pulling the Nasdaq composite down even mo