US STOCKS-Wall St drops as Powell rate views support aggressive hike path ...Middle East

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US STOCKS-Wall St drops as Powell rate views support aggressive hike path
source : Devdiscourse ( Middle East ) () 30
Wall Street's three main indexes closed lower on Thursday, giving up earlier gains as Federal Reserve officials including Chair Jerome Powell offered further signposting of aggressive interest rate hikes this year. A half-point interest rate increase will be "on the table" when the U.S. central bank meets on May 3-4 to approve the next in what is expected to be a series of rate increases this year, Powell said.

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