Trending: Oil | Gold | BITCOIN | EUR/USD | GBP/USD

US stocks fall in early trading after Powell's nomination

Economies.com
2021-11-23 15:33PM UTC

Most of the US stock indices fell on Tuesday, as the markets focused on the impact of Jerome Powell's nomination as Federal Reserve Chairman.

 

US President Joe Biden renewed confidence in Powell's steady leadership in times of crisis, which comes amid rising inflation in the US.

 

Biden's administration announced the release of 50 million barrels of strategic oil reserves, in coordination with China, India, Japan, Britain and South Korea.

 

The White House commented on the step by saying that the Biden administration is ready to take more measures to balance the market.

 

OPEC and its independent allies are expected to study this step impact on the market.

 

As for stocks, Dow Jones fell less than 0.1% or 8 points to 35,610 as of 15:31 GMT, and S&P 500 fell 0.2% or 10 points to 4,672, while Nasdaq fell 0.7% or 120 point to 15,732.

American Markets News

Americas News

Markets

Wall Street loses ground amid mounting tariff war
2025-07-11 15:29PM UTC
U.S. stock indices declined during Friday trading as the global trade war between the United States ...
Americas News

Markets

Wall Street maintains gains, NASDAQ marks another record close
2025-07-09 20:30PM UTC
US stock indices climbed during Wednesday’s session and held onto their gains following the ...
Americas News

Markets

Wall Street gains ground ahead of Fed's minutes
2025-07-09 15:20PM UTC
U.S. stock indexes rose at the start of trading on Wednesday as markets assessed developments in ...