Dow tumbles as Fed Powell rules out March rate cut

US stocks plunged sharply overnight, following Fed’s decision to maintain the interest rate at 5.25-5.50%. While Fed finally dropped tightening bias, indicating the peak of the tightening cycle, it firmly dismissed the possibility of an imminent rate cut in March. Chair Jerome Powell’s statement during the post-meeting press conference was clear: “I don’t think it’s […]

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