Investors look for hints about further interest rate cuts that could restore some calm to markets. — AFP
NEW YORK: A US stock market rocked by President Donald Trump's back-and-forth on foreign import tariffs faces a Federal Reserve meeting in the coming week, as investors look for hints about further interest rate cuts that could restore some calm to markets.
A weeks-long slide in stocks accelerated in recent days with the benchmark S&P 500 on Thursday confirming it was in a correction, ending down over 10% from its February 19 record high. While stocks ended the week on a positive note, with the S&P 500 rebounding sharply on Friday, the decline had wiped off more than US$4 trillion in market value, with some of Wall Street's highest fliers such as Nvidia and Tesla getting pummeled.
