7/16, 10:00 PM (Source: TeleTrader)
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US markets close lower after Fed comments

Stocks on Wall Street finished the Tuesday's trading session below the flatline after United States Federal Reserve Chair Jerome Powell stated uncertainties relating to trade developments and global growth strengthened the case for a rate cut. Meanwhile, Fed's Bank of Chicago President Charles Evans warned against the use of "excess stimulus" to boost growth, expressing support for a "little more" accommodating monetary policy.

The Dow Jones Industrial Average was 0.09% lower at the closing bell, after reaching an all-time intraday high, as the Intel Corp. lost 1.90%. The Nasdaq 100 dropped half a point, while the S&P 500 slipped 0.34% at the same time. The Western Digital Corp. was the worst performer on both indexes, tumbling 5.77%

The euro was down 0.43% against the dollar to change hands for 1.12090 at 15:59 pm ET, while the pound lost 0.87% to $1.24075 concurrently.

Breaking the News / MD