Wall St ends lower as Powell dashes rate-cut hopes

As of 4:13 p.m. ET, the Dow fell 207.33 points, or 0.47%, to 43,750.86, the S&P 500 lost 36.21 points, or 0.60%, at 5,949.17 and the Nasdaq dropped 123.07 points, or 0.64%, to 19,107.65.

NEW YORK: Wall Street's main indices closed lower on Thursday after Federal Reserve chair Jerome Powell dampened investors' hopes for another interest rate cut this year by saying the US central bank need not rush to ease monetary policy.

Powell said at a Dallas Fed event that with the economy still growing, the job market solid and inflation still above the 2% target, the Fed can deliberate carefully on rate cuts.