NEW YORK – Wall Street plunged into the red on Thursday, with all three major stock indices closing lower after investors were disappointed by Federal Reserve Chair Jerome Powell’s response to inflation fears.
The tech-rich Nasdaq Composite Index was the biggest loser, falling 2.1 percent to end at 12,723.47, off the lowest point of the session.
The benchmark Dow Jones Industrial Average shed 1.1 percent to close at 30,924.14, while the broad-based S&P 500 dropped 1.3 percent to 3,768.47.
Shares were choppy but mostly higher all day, but headed south shortly after Powell’s speech, despite the central bank chair saying price increases are not an immedi…
Keep on reading: Wall Street closes lower, battered by price concerns