The S&P 500 and Nasdaq slipped from all-time intra-day highs on Wednesday in choppy trading after the Federal Reserve ruled out for now more ...
NEW YORK: The S&P 500 and Nasdaq slipped from all-time intra-day highs on Wednesday in choppy trading after the Federal Reserve ruled out for now more dovish monetary policy measures such as the yield curve control.
as a monetary policy tool. Of those who discussed this option, most judged that yield caps and targets would likely provide only modest benefits in the current environment. The Fed also raised concerns that the U.S. economy's recovery from the devastating effects of the coronavirus pandemic faced a highly uncertain path.It noted that the swift rebound in employment seen in May and June had likely slowed and that additional"substantial improvement" in the labor market would hinge on a"broad and sustained" reopening of business activity.The latest moves came after Apple became the first publicly listed U.S.
The S&P 500 closed at a record level on Tuesday in what has been its fastest recovery ever from a bear market. The Nasdaq recouped its losses from the pandemic sell-off two months ago, but the Dow is still nearly 5per cent below February's record closing high.
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