Dow falls 350 pts premarket after Fed comments

Thursday, 17. November 2022 14:14

Stock exchanges in the United States dropped further in the premarket on Thursday following remarks made by Federal Reserve Bank of St. Louis President James Bullard, who noted that the central bank's "change in the monetary policy stance appears to have had only limited effects on observed inflation" and that key interest rate "is not yet in a zone that may be considered sufficiently restrictive." Elsewhere, investors assessed the latest earnings reports by Alibaba and Macy's.

The Dow Jones Industrial Average index was down 1.05% or 351 points, the Nasdaq 100 declined 1.01% and the S&P 500 decreased 1.17% at 8:13 am ET.

The euro was 0.79% lower compared to the US dollar, changing hands for 1.03162 a minute later.

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