Dow drops 170 points after Powell doesn’t make fun of the September cut
Stock markets fell again on Wednesday after the Federal Open Market Committee stabilized interest rates at its July meeting.
The Dow Jones industrial average fell 172 points (0.4%). The S&P 500 fell 0.1%. Nasdaq composites rose nearly 0.2%.
Stocks of retailers and copper miners fell into the Fed after President Donald Trump shared details about an order suspending the exemption from commercial shipments worldwide and imposed a 50% tariff on semi-defined copper products imports. The stocks saved several losses after the president said he was meeting with the South Korean trade delegation and reached a deal with Pakistan.