Traders work on the floor at the New York Stock Exchange (NYSE), after Republican Donald Trump won the U.S. presidential election, in New York City, U.S., November 6, 2024.
U.S. stocks slid on Thursday, as fresh comments from Federal Reserve Chair Jerome Powell signaled that economic strength could warrant some patience with future rate cuts.
The Dow Jones Industrial Average slipped 189 points, or 0.4%, after falling more than 250 points at the lows of the session.
"The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully," Powell said.
Those moves come after the October producer price index released Thursday rose 0.2%, matching forecasts from economists polled by Dow Jones.
Persons:
Republican Donald Trump, Jerome Powell, Stocks, Powell, Tesla, Dow Jones, Donald Trump's, Jay Woods
Organizations:
New York Stock Exchange, Republican, U.S, Federal, Dow Jones, Nasdaq, Trump, Russell, PPI, Dow, Freedom Capital
Locations:
New York City, U.S, Dallas