Stocks fall further as Powell downplays selloff

|About: SPDR S&P 500 Trust ETF (SPY)|By:, SA News Editor

Stocks fell across the globe overnight after the FOMC lifted interest rates for the fourth time this year, while Fed Chair Jerome Powell downplayed implications of market volatility and said the central bank would continue its balance-sheet runoff.

The S&P 500 is now 14.5% below its Sept. 20 record high. Well over half of S&P 500 companies are also down by at least 20% from their 52-week highs and some segments of the market including small-cap stocks have already confirmed a bear move.

Asia: Nikkei -2.8%; Hang Seng -0.9%; Shanghai -0.5%.

Europe: FTSE 100 -0.6%; CAC 40 -1.5%; DAX -1%.

U.S. futures: Dow -0.2%; S&P -0.2%; Nasdaq -0.1%.

Oil is down 3.6% at $46.43/bbl, gold is up 0.2% to $1259/ounce and the 10-year Treasury yield is flat at 2.76%.

ETFs: SPY, QQQ, DIA, SH, SSO, VOO, SDS, IVV, SPXU, TQQQ, UPRO, PSQ, SPXL, RSP, SPXS, SQQQ, QID, DOG, QLD, DXD, UDOW, SDOW, VFINX, EPS, DDM, QQEW, QQQE, SPLX, SFLA, QQXT, SPUU, SPXE, UDPIX, OTPIX, RYARX, SPXN, SPDN, SPXT, SPXV

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