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US stocks turn negative following tough Powell speech

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Wall Street equities lost ground in mid-session trading Friday following tough talk from Federal Reserve Chair Jerome Powell, who warned of “pain” ahead for Americans in the battle against inflation.

While the major indices initially seemed to take the comments in stride, losses accelerated ahead of midday.

Around 1530 GMT, the Dow Jones Industrial Average had lost 1.7 percent to 32,740.36.

The broad-based S&P 500 fell 1.9 percent to 4,118.78, while the tech-rich Nasdaq Composite Index slid 2.4 percent to 12,333.39.


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Agence France-Presse (AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency.

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