CNBC Daily Open: Powell flipped the script
Publishing timestamp: 2023-03-22 19:41:46
Summary
The U.S. Federal Reserve raised interest rates by 0.25 percentage points, with most members forecasting just one more hike this year before pausing. However, Fed Chair Jerome Powell's warnings about the economy and tighter credit conditions caused a negative reaction in the markets, with U.S. stocks tumbling. In other news, GameStop saw a surge in its stock after reporting its first profitable quarter in two years, but analysts warn of longer-term headwinds.
Sentiment: MIXED
Tickers: GME,
Keywords: markets, jerome powell, gamestop corp, janet yellen, u.s. economy, inflation, banks, united states, world markets, business news, interest rates,
Source: https://www.cnbc.com/2023/03/23/stock-markets-powell-flipped-the-script.html