Wall Street's three major indexes fell slightly after a choppy session on T...
NEW YORK - Wall Street’s three major indexes fell slightly after a choppy session on Tuesday as investors eyed mixed U.S. economic data and corporate news and waited for clarity on issues such as the U.S.-China trade talks.
Federal Reserve Chairman Jerome Powell told a U.S. Senate Banking Committee that the central bank would remain “patient” in deciding on further interest rate hikes and that rising risks and recent soft data should not prevent solid growth for the economy this year. He cited issues such as a need for specifics on U.S.-China trade relations after President Donald Trump said on Sunday he would delay an increase in U.S. tariffs on Chinese goods after “productive” trade talks.
The Dow Jones Industrial Average fell 33.97 points, or 0.13 percent, to 26,057.98, the S&P 500 lost 2.21 points, or 0.08 percent, to 2,793.9 and the Nasdaq Composite dropped 5.16 points, or 0.07 percent, to 7,549.30. The S&P’s biggest losing stock was JPMorgan Chase & Co, which closed down 0.8 percent after it warned of rising costs for deposits, a key part of its business, and slowing global economic growth.
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