Stocks dropped to sessions lows, with the Nasdaq following the Russell 2000 and Tokyo-traded shares into bear-market territory, after Treasury Secretary Steven Mnuchin said Thursday that the market “overreacted” to Fed Chairman Jerome Powell’s remarks a day earlier.
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MNUCHIN SAYS MARKET OVER-REACTED TO FED’S COMMENTS
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MNUCHIN: MARKET WAS DISAPPOINTED WITH FED CHAIRMAN COMMENTS
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MNUCHIN SAYS HE FOCUSES ON FED’S INFLATION PROJECTION
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MNUCHIN: IF LOW INFLATION CONTINUES, FED RATE PATH MAY CHANGE
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MNUCHIN: WE’RE COMFORTABLE WITH TREASURY SUPPLY, NOT AS WORRIED AS MARKETS APPEAR
But the market is upset…
*MNUCHIN SAYS MARKET OVER-REACTED TO FED’S COMMENTS
S&P 500 hits session low.
— Brian Chappatta (@BChappatta) December 20, 2018
The Nasdaq just entered a bear market and is down 5% from the FOMC Statement:
via RSS https://ift.tt/2UXiIdi Tyler Durden