Global markets update: US stocks slump as Jerome Powell indicates more rate hikes
US stocks slumped on Wednesday as Federal Reserve Chair Jerome Powell indicated more interest rate hikes to tame inflation in the year ahead. The S&P 500 fell 22.98 points, or 0.52%, at 4,365.73 points. The Dow Jones Industrial Average dropped 102.42 points, or 0.30%, at 33,952.64. The Nasdaq Composite lostRead More →