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Stocks drop on Thursday after Fed Chair says recovery will be slow

Stocks drop on Thursday after Fed Chair says recovery will be slow

Stocks plunged Thursday after Federal Reserve Chairman Jerome Powell warned that the economic recovery is likely to take a long time. At noon, the S&P 500 lost 3.3%. In other news, another 1.5 million people applied for unemployment even as states continue to reopen and there are reports that COVID-19 cases are rising in several states. Prices also fell sharply in European and Asian markets.

Skeptic
Skeptic
Fin
Fin 3 months

Drops is a kind word for crashed

Will Miller
Will Miller 3 months

Fed dickbag sabatouging the economy

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