Stock Market News

Dow drops 330 pts on Fed’s comments, registers biggest daily drops in 2 months

The DowJones Industrial Average fell 333.75 points, or 1.23%, to 26,864.27, the S&P 500 lost 32.8 points, or 1.09%, to 2,980.38 and the Nasdaq Composite dropped 98.20 points, or 1.19%, to 8,175.42.

The Dow and S&P 500 registered their biggest daily percentage drops in two months on Wednesday after FederalReserve Chair Jerome Powell dampened expectations for further cuts following the central bank’s first interest rate cut in a decade.

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