S&P 500 swings lower to enter correction as tech gives up gains, energy slumps
Investing.com -- The S&P 500 slumped into correction territory Friday, as tech stocks gave up some of their gains and a Chevron-led fall in energy stocks weighed on investor sentiment.The S&P 500 has racked up a more than 10% from its July peak of 4,588.96 to enter correction territory as tech gave up some gains despite a rally in Amazon and Intel.
While ongoing signs of the slowing inflation will provide the Fed with further evidence that its restrictive monetary policy measures are having the desired impact, the stronger-than-expected pace ofAt a speech at Economic Club of New York luncheon on Oct. 19, Powell warned that above-trend economic growth could"put the progress of inflation at risk and justify further tightening of monetary policy," the Fed chief said.
Dimon and his family’s stake in the bank, which is currently about 8.6 million shares, “will remain very significant,” the bank added.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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