GLOBAL MARKETS-Wall Street, other markets decline on Fed remarks

The Dow Jones Industrial Average fell 345.95 points, or 1.11%, to 30,924.14, the S&P 500 lost 51.25 points, or 1.34%, to 3,768.47 and the Nasdaq Composite dropped 274.28 points, or 2.11%, to 12,723.47.

NEW YORK: Wall Street slumped on Thursday and global stock markets declined after U.S. Federal Reserve Chair Jerome Powell repeated his pledge to keep credit flowing until Americans are back to work, rebutting investors who have openly doubted he can stick to that promise once the pandemic passes.

Benchmarket U.S. Treasury yields rose toward last week's highs as Powell spoke, and the dollar hit a three-month high.