WASHINGTON (AFP) - Wall Street ended in a mixed fashion on Thursday (Aug 27) following the Federal Reserve's major inflation policy change, with the S&P posting a new record but the Nasdaq retreating.. Read more at straitstimes.com.
WASHINGTON - Wall Street ended in a mixed fashion on Thursday following the Federal Reserve's major inflation policy change, with the S&P posting a new record but the Nasdaq retreating.
But the Nasdaq snapped its streak of five back-to-back records retreating 0.4 per cent to finish at 11,926.16. The move will not have any effect in the near-term because borrowing rates are at near-zero as the economy weathers the coronavirus downturn. "The Fed made it pretty clear: the fiscal side is pretty much a mess, I want everyone to know we got your back. That was the message conveyed, and the market took it well," she said.
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