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US stocks fall sharply as Fed's Jerome Powell says December rate cut not a foregone conclusion
US stocks experienced a sharp decline as Federal Reserve Chair Jerome Powell indicated that a December rate cut is not guaranteed. This statement followed a 25 bps rate cut announcement amidst concerns over a government shutdown impacting the economic outlook. Despite the broader market dip, Nvidia's stock surged on significant AI chip orders and supercomputer plans.
US stocks experienced a sharp decline as Federal Reserve Chair Jerome Powell indicated that a December rate cut is not guaranteed. This statement followed a 25 bps rate cut announcement amidst concerns over a government shutdown impacting the economic outlook. Despite the broader market dip, Nvidia's stock surged on significant AI chip orders and supercomputer plans.
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