Fed Chair shifts his bias
The Fed Chair shifted his bias toward the hawkish side getting rid of the “inflation is transitory” statement and plugging for a faster taper as well.
The major indices all fell sharply with the small-cap Russell 2000 and S&P index leading the way (although the Dow and NASDAQ were also hit hard).
The final numbers are showing:
- Dow industrial average -652.22 points or -1.86% at 34483.70
- S&P index -88.25 points or -1.90% at 4567.01
- NASDAQ index -245.13 points or -1.55% at 15537.70
- Russell 2000-43.06 points or -1.92% at 2198.90
For the month:
- Dow industrial average -3.73%
- S&P index -0.83%
- NASDAQ index +0.25%
- Russell 2000, -4.28%