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Dow Jones Pares 400-Point Loss As Powell Testifies; Apple, Tesla Sell Off But Disney Rallies – Investor’s Business Daily
The Dow Jones Industrial Average dived nearly 400 points early Tuesday before trimming its loss as Fed Chief Jerome Powell testified to Congress.
Early Tuesday, Powell reiterated that the Fed is “committed to using our full range of tools to support the economy and to help ensure that the recovery from this difficult period will be as robust as possible,” in a speech in front of the Senate Banking Committee.
He commented that inflation and employment remain well below the Fed’s objectives, which suggests easy monetary policy is likely to remain in place.
Tech stocks boosted the Nasdaq to a 43.6% gain in 2020 for its fifth best year ever….
