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5/18, 10:32 AM (Source: TeleTrader)
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US lower premarket after Powell's inflation remarks

Major stock markets in the United States traded lower premarket on Wednesday following Fed Chair Jerome Powell's reluctance to offer predictions on how long the current spike in inflation will last due to the unpredictability of geopolitical circumstances. He also warned there could be "some pain involved" but confirmed the Fed will continue raising its key interest rates until it sees inflation going down.

The Dow Jones fell by 0.27% at 4:31 am ET, while the Nasdaq 100 was down 0.71% and the S&P 500 dropped 0.43% at the same time.

The euro traded 0.36% lower against the dollar, selling for 1.05097 at 4:31 am ET.

Baha Breaking News (BBN) / DJ