[Breaking] New York Stock Market Falls Amid March 'Pivot' Disappointment... Nasdaq Down 2.2%

The three major indices of the U.S. New York stock market all closed lower on the 31st (local time) as Federal Reserve (Fed) Chairman Jerome Powell dismissed the possibility of an early rate cut in March.

On this day at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed down 0.82% compared to the previous day. The S&P 500, which focuses on large-cap stocks, fell 1.61% from the previous trading day, and the tech-heavy Nasdaq index dropped 2.23% to close the session.

Following the Federal Open Market Committee (FOMC) regular meeting, the Fed announced it would unanimously keep the federal funds rate unchanged at 5.25?5.5%. This marks the fourth consecutive hold decision following September, November, and December of last year.

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