Stocks surge, dollar sinks on dovish Powell signal

FEDS SOFTEN: The S&P 500 Index gained 2.3 percent as of 4 p.m. New York time, the biggest three-day gain since June after a dovish tone from the Federal Reserve chairman fueled speculation the central bank is closer than thought to pausing on rate hikes. The Nasdaq 100 rose 3.2 percent and the Dow added 2.5 percent Wednesday. / BLOOMBERG FILE PHOTO/MICHAEL NAGLE
FEDS SOFTEN: The S&P 500 Index gained 2.3 percent as of 4 p.m. New York time, the biggest three-day gain since June after a dovish tone from the Federal Reserve chairman fueled speculation the central bank is closer than thought to pausing on rate hikes. The Nasdaq 100 rose 3.2 percent and the Dow added 2.5 percent Wednesday. / BLOOMBERG FILE PHOTO/MICHAEL NAGLE
NEW YORK - United States stocks rallied the most in eight months, the dollar fell and emerging-market assets surged after a dovish tone from the Federal Reserve chairman fueled speculation the central bank is closer than thought to pausing on rate hikes. Stocks that had fallen the most during the six-week slump in American equities…

Want More Free?

To access 2 more articles, please log in or register for free.

Registered users get access to a limited number of free articles every month.

Register Now

Already registered? Login to access more free articles.

Purchase NowWant to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.

- Advertisement -