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Fed Chair shifts his bias
The Fed Chair shifted his bias toward the hawkish side getting rid of the “inflation is transitory” statement and plugging for a faster taper as well.
The major indices all fell sharply with the small-cap Russell 2000 and S&P index leading the way (although the Dow and NASDAQ were also hit hard).
The final numbers are showing:
- Dow industrial average -652.22 points or -1.86% at 34483.70
- S&P index -88.25 points or -1.90% at 4567.01
- NASDAQ index -245.13 points or -1.55% at 15537.70
- Russell 2000-43.06 points or -1.92% at 2198.90
After the close of Salesforce announced stronger earnings and revenues but there guidance for came in short of expectations. The stock is trading down close to 6% in after-hours trading. Salesforce was already the weakest performer of the Dow 30 today with a decline of -3.82%, but was up over 28% year to date
This article was originally published by Forexlive.com. Read the original article here.