The US stock market turned down again

The pale bleakness of hindsight took over the US stock exchange on Thursday. The atmosphere didn't improve when central bank chief Jerome Powell signaled caution with further interest rate cuts.

» Published: November 14 2024

The US stock market turned down again
Photo: Peter Morgan/AP/TT

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The economy is sending no signals that we need to hurry to lower the interest rate. The strength we are currently seeing in the economy gives us the opportunity to approach the decision with caution, said Powell in a speech in Dallas.

Many investors are eagerly awaiting several interest rate cuts to stimulate stock prices.

Even before Powell spoke, the New York Stock Exchange was clearly in the minus, but they fell further in connection with the Fed chief's words.

The broad S&P 500 index and the technology-heavy Nasdaq composite index fell 0.6 percent, and the Dow Jones industrial index 0.5 percent.

Since Donald Trump won the presidential election, the US stock market has otherwise had a strong development. Now, there was a clear breathing pause in the rush upwards.

The dollar, on the other hand, was favored by Powell's speech and rose against other currencies. One dollar now costs 11 kronor.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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