market committee: Following new highs for U.S. indexes, dozens of large-cap stocks have fallen since the Federal Reserve handed a gift to investors last week, according to Market Watch. The Federal Open Market Committee surprised nobody when lowering the federal funds rate a quarter point July 31, but Federal Reserve Chairman Jerome Powell set the stage for a four-day market decline when his comments were less dovish than the market expected. What a difference a week can make. Then, with a remarkable sense of timing, after saying via Twitter that Powell let us down by not being aggressive enough in taking action to stimulate the economy, President Trump announced another round of tariffs on imports from China on Friday. The Dow Jones Industrial Average DJIA, 1.21% declined 767 points 2.9% on Monday. China in turn allowed the yuan to decline significantly against the dollar.
(news.financializer.com). As
reported in the news.
Tagged under market committee, dow jones topics.