[Breaking] New York Stocks Close Lower as Powell Draws Pivot Line... Nasdaq Down 0.46%
The major indices of the U.S. New York Stock Exchange all closed lower on the 3rd (local time), as expected, following the Federal Open Market Committee (FOMC) meeting in May, which raised the benchmark interest rate by 0.25 percentage points, and in response to remarks by Jerome Powell of the Federal Reserve (Fed).
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On this day, the Dow Jones Industrial Average closed down 0.8% compared to the previous session. The S&P 500, which focuses on large-cap stocks, fell 0.7%, and the tech-heavy Nasdaq index closed down 0.46%.
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