US Stocks Turn Lower after Powel's Remarks
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US stocks declined after the Federal Reserve maintained interest rates, with Chair Jerome Powell indicating no imminent rate cuts. The S&P 500 fell 0.4%, the Dow dropped over 300 points, and the Nasdaq decreased by 0.2%. The Fed's decision was not unanimous, with two governors dissenting for a rate cut. Corporate earnings reports showed mixed results, with Humana, Kraft Heinz, and Visa performing well, while Starbucks fell despite strong revenue. Additionally, President Trump announced new tariffs on Indian and Brazilian goods, escalating trade tensions.
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