Stocks Slide as Fed Comments Dampen Rate Cut Hopes
The Dow fell 0.7% on Nov. 14 as hawkish remarks from Fed officials Schmid and Logan rattled investors.
U.S. markets closed lower on Friday, Nov. 14, capping a volatile week defined by anxiety over interest rates and high technology valuations. The Dow Jones Industrial Average dropped roughly 340 points, or 0.7%, while the S&P 500 slipped 0.1%.
The tech-heavy Nasdaq Composite managed a nominal gain of 0.1% by the closing bell, recovering from earlier losses. However, the session was dominated by a "risk-off" sentiment triggered by hawkish commentary from Federal Reserve officials, which slashed the probability of a December rate cut.
Fed Speakers Signal Pause
Two regional Fed presidents delivered blunt assessments that undermined the market's assumption …
Archive Access
This article is older than 24 hours. Create a free account to access our 7-day archive.