Wall St drops over 1% after Powell’s inflation, taper comments


FILE PHOTO: A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 19, 2021. REUTERS/Andrew Kelly

November 30, 2021

(Reuters) – Wall Street’s main indexes extended declines in choppy trading on Tuesday after Federal Reserve Chair Jerome Powell said the risk of higher inflation has increased and that it was appropriate to consider wrapping up tapering a few months sooner.

At 10:57 a.m. ET, the Dow Jones Industrial Average was down 458.64 points, or 1.31%, at 34,677.30, the S&P 500 was down 58.76 points, or 1.26%, at 4,596.51, and the Nasdaq Composite was down 193.42 points, or 1.23%, at 15,589.41.

(Reporting by Devik Jain in Bengaluru)

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