Market volatility, on Wednesday, is low because of correlation going down. The Dow Jones Industrial Average fell as Wall Street fought to recover from Tuesday\u2019s selloff, triggered by comments from Fed Chair Jerome Powell signaling higher interest rates for longer.
The Dow fell 202 points, or 0.6%, dragged down by declines from Merck and McDonald\u2019s. The S&P 500 traded 0.2% lower, while the Nasdaq Composite was flat.
The latest job market data further fueled investor concern that bigger rate increases may be ahead. Data showed that job openings fell less than expected in January, while a stronger-than-expected February private payrolls report affirmed that the economy is standing strong despite the central bank\u2019s hiking. The findings precede Friday\u2019s February jobs data after January\u2019s blockbuster number.
US Stocks are coming off a down session after comments from Powell\u2019s Senate testimony cautioned lawmakers that the central bank\u2019s terminal rate will likely be higher than previously anticipated due to stubbornly high economic data. Commentary continued on Wednesday as Powell spoke before the House Financial Services Committee.<\/p>\n","protected":false},"excerpt":{"rendered":"
Market volatility, on Wednesday, is low because of correlation going down. The Dow Jones Industrial Average fell as Wall Street fought to recover from Tuesday\u2019s selloff, triggered by comments from Fed Chair Jerome Powell signaling higher interest rates for longer.The Dow fell 202 points, or 0.6%, dragged down by declines from Merck and McDonald\u2019s. The …<\/p>\n","protected":false},"author":13,"featured_media":61273,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7192,6885,8143,7163,6901,8830,7587],"class_list":["post-81183","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-dow","tag-fed","tag-interest-rate-hikes","tag-jerome-powell","tag-nasdaq","tag-sp-500-3","tag-us-stocks"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/81183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=81183"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/81183\/revisions"}],"predecessor-version":[{"id":81190,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/81183\/revisions\/81190"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61273"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=81183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=81183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=81183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}