Frankfurt A commitment by US Federal Reserve Chairman Jerome Powell to comparatively aggressive interest rate moves caused losses on Wall Street on Thursday. Powell announced at the International Monetary Fund’s (IMF) spring meeting: “I would say 50 basis points will be on the table for the May meeting.” Even strong business figures from companies like Tesla could only contain the decline.
The Dow Jones lost 1.1 percent to 34,793 points. The tech-heavy Nasdaq fell 2.1 percent to 13,175 points and the broad S&P 500 fell 1.5 percent to 4,394 points.
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