Powell's Last Jackson Hole Speech Could Be a Big 1
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It was a mixed day on Wall Street, with the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) closing in the red. The Dow Jones Industrial Average (^DJI) closed higher, but only by 10 points. Yahoo Finance Markets and Data Editor Jared Blikre recaps the action at the close while Defiance ETFs CEO and CIO Sylvia Jablonski weighs in on the day's trading.
Stocks often rise the week of the Fed’s big Jackson Hole gathering. Don’t count on it this year.
Tech stocks led declines on Wall Street, with worries about AI spurring debates about its future. The Nasdaq Composite dropped 2.2% over the last two days, the worst two-day fall since August 1st.
Key PointsThe technology-heavy Nasdaq Composite returned 12% annually over the last 20 years, and similar returns are likely in the future as the artificial intelligence (AI) boom unfolds.
The tech-heavy Nasdaq Composite was headed for its biggest three-day slump since April on Thursday, as tech selling continued and a selloff in bonds pushed longer-duration yields higher. The Nasdaq was about 2.6% lower over the past three session ...