Business
Nasdaq wipes out gains for 2021 as US Federal Reserve chairman Jerome Powell fails to calm markets over inflation fears – ABC News
Wall Street’s Nasdaq index moves into a technical correction after the US Federal Reserve chairman Jerome Powell took no action to curb rising bond yields, which…
The tech-heavy Nasdaq index has wiped out its gains for this year after the US central bank chairman failed to outline steps to calm the market volatility which has pushed up bond yields.
Federal Reserve chairman Jerome Powell told a Wall Street Journal forum that he would be concerned by disorderly markets but stopped short of offering specific steps to curb the sell-off in bonds and a corresponding rise in the returns on the bonds, known as yields, because of fears of rising inflation.
His comments…
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