Business
Stocks drop after Powell’s hawkish remarks
U.S. stock benchmarks fall and Treasury yields jump at the start of the week, with investors worried by the Federal Reserve determined to continue fighting inflation even if it causes some economic pain.
S&P 500 drops 0.3% at the start of the session, giving the benchmark index a head start lost 3.4% on Friday. The Dow Jones Industrial Average lost 0.5%, or about 170 points, while the tech-focused Nasdaq Composite Index fell 0.3%.