 "US Fed chief Jerome Powell")
The US economy faces unprecedented downside risks that could do lasting damage to households and businesses if fiscal and monetary policymakers don’t rise to the challenge, Federal Reserve Chair Jerome Powell said. US stocks fell sharply for the second day on Wednesday after his comment.
The Dow Jones Industrial Average was down 496.84 points, or 2.09 per cent, at 23,267.94, the S&P 500 was down 52.72 points, or 1.84 per cent, at 2,817.40 (at 9:37 pm IST).
The Dow Jones Industrial Average was down 496.84 points, or 2.09 per cent, at 23,267.94, the S&P 500 was down 52.72 points, or 1.84 per cent, at 2,817.40 (at 9:37 pm IST).
“The recovery may take some time to gather momentum, and the passage of time can turn liquidity problems into solvency problems,” Powell
