(Image by mohamed Hassan from Pixabay)
(CNBC) -- U.S. stocks rebounded Tuesday as traders digested Federal Reserve Chair Jerome Powell’s latest rate hike comments.
The Dow Jones Industrial Average rose 254.47 points, or 0.7% to 34,807.46. The S&P 500 added 1.1% to close at 4,511.61. The Nasdaq Composite rallied nearly 2% to finish at 14,108.82.
Stocks were coming off a volatile session Monday, as Powell said “inflation is much too high” and vowed to take “necessary steps” to curb inflation. The comments came less than a week after the Fed raised rates for the first time since 2018.
The post Stocks bounce as investors raise rate hike expectations after Powell's comments appeared first on WND.
