Fed’s Powell Drives Dow Down 1,000 Points In End To Rocky Week

By FOX Business
Posted on 08/26/22 | News Source: FOX Business

U.S. stocks saw a sharp selloff on Friday with the Dow Jones Industrial Average touching a 1,000+ point drop. The S&P 500 and the Nasdaq Composite shed over 3%. Federal Reserve Chairman Jerome Powell delivered a warning about the health of economy with interest rates expected to rise even further as policymakers try to tame red hot inflation.