New York: US stocks ended the week sharply lower as investors adjusted their positions to a potentially slower rate of interest rate cuts in 2025.
The Dow Jones Industrial Average closed down 305.87 points, or 0.7 percent, to 43,444.99. The broader S&P 500 lost 78.55 points, or 1.3 percent, to 5,870.62. The Nasdaq Composite Index of technology stocks lost 427.53 points, or 2.2 percent, to 18,680.12.
The decline came following remarks made by Federal Reserve Chairman Jerome Powell in which he said the Fed could consider rate cuts more carefully.
