5/13, 10:00 PM (Source: TeleTrader)
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Wall Street plunges at close after Fed comments

Stock markets in the United States sank at close on Wednesday following the statement made by Federal Reserve Chair Jerome Powell, in which he said the central bank is not considering turning to negative interest rates. In the same briefing, Powell claimed more stimulus may be needed to curb the economic crisis.

The Dow tumbled 2.17% or 516 points at the close, with American Express dropping 6.15%. The Nasdaq 100 ended 1.23% lower as United Airlines plummeted 9.01%. The S&P 500 fell 1.75% to end the session. Coty Inc. led the losses with a 15.47% decline.

The euro lost 0.31% against the dollar to sell for $1.08146 at 4:02 pm ET.

Breaking the News / ND