Stocks retreat on Fed Powell's hawkish comments

Fed Chair shifts his bias

The Fed Chair shifted his bias toward the hawkish side getting rid of the “inflation is transitory” statement and plugging for a faster taper as well.

The major indices all fell sharply with the small-cap Russell 2000 and S&P index leading the way (although the Dow and NASDAQ were also hit hard).

The final numbers are showing:

Dow industrial average -652.22 points or -1.86% at 34483.70
S&P index -88.25 points or -1.90% at 4567.01
NASDAQ index -245.13 points or -1.55% at 15537.70
Russell 2000-43.06 points or -1.92% at 2198.90

After the close of Salesforce announced stronger earnings and revenues but there guidance for came in short of expectations. The stock is trading down close to 6% in after-hours trading. Salesforce was already the weakest performer of the Dow 30 today with a decline of -3.82%, but was up over 28% year to date
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This article was originally published by Forexlive.com. Read the original article here.