Markets Revolt as Steadfast Powell Downplays Recent Sell-Off
- S&P 500 careens to 15-month low as Fed chairman speaks
- Dollar firms and Treasury yields tumble on latest policy move
Jerome Powell
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
The Federal Reserve leaned dovish during its latest policy meeting. Financial markets wanted more.
The S&P 500 tumbled to a 15-month low and investors flooded into Treasuries after Fed Chairman Jerome Powell signaled the central bank saw little threat to the economy from the recent turmoil on financial markets.