3/26, 12:28 PM (Source: TeleTrader)
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Wall Street eases losses premarket on Powell's remarks

Markets in the United States narrowed losses in premarket trade on Thursday after Federal Reserve Chairman Jerome Powell assured that the central bank will not run out of ammunition to support the economy amid the coronavirus pandemic. In an interview on NBC News, he also underlined that, despite the recession caused by the pandemic, there is "nothing wrong" with the US economy and he expects it to rebound after the virus is gone.

After losing upwards of 300 points, the Dow Jones Industrial Average was 177 points lower at 7:31 am ET, or 0.81%, just above the 21,000 point mark.

The Nasdaq 100 also improved significantly, now down 0.56% at 7:32 am ET, as the S&P 500 fell 0.98% at the same time.

The euro advanced 0.76% against the dollar at 7:33 am ET, selling for $1.09653.

Breaking the News / NI