- U.S. stocks end down; MSCI global stock index also lower
- Powell says committed to bringing down inflation
- Dollar slips
NEW YORK, June 22 (Reuters) – Major U.S. stock indexes ended down slightly Wednesday, losingearly gains tied to remarks by Federal Reserve Chair Jerome Powell that the U.S. central bank is “strongly committed” to bringing down inflation, while sharply lower oil prices weighed on energy shares.
The S&P 500 energy sector (.SPNY) was down 4.2%.
The dollar fell alongside U.S. Treasury yields on fears the U.S. economy could slip into recession after Powell, in testimony to the U.S. Senate Banking Committee, said higher rates are painful but are the means the U.S. central bank has to slow inflation. read more
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“Like all Fed commentary, there are positives and negatives, but the overall message is the Fed is not backing away from rate hikes,” said Tim Ghriskey, senior…
