Stocks, Treasuries Sink on Hawkish Powell Remarks: Markets Wrap

Fed Chair Jerome Powell warns of possible inflation signals
Media shares fall following Comcast’s $31 billion bid for Sky

Fed Chair Jerome Powell tells Congress that some headwinds facing the economy "have turned into tailwinds."(Source: Bloomberg)

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By Sarah Ponczek and Kailey Leinz

February 26, 2018 at 9:56 PM UTC

Updated on

February 27, 2018 at 9:04 PM UTC

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U.S. stocks sold off for the first time in three sessions and Treasuries slumped as investors weighed the potential for added interest rate hikes this year following Federal Reserve Chairman Jerome Powell’s assessment that the economy is strengthening and inflation could be gaining speed. The dollar advanced.

All major equity gauges finished lower. Shares of media companies led the way down following Comcast’s $31 billion proposal to buy Sky Plc, which could set off a bidding war with Walt Disney Co. and 21st Century Fox Inc. Automakers and real estate developers also struggled.