Markets Tumble as Powell Spooks the Herd Powell’s quiet little comment at a Rhode Island luncheon wasn’t meant for headlines—but it lit the fuse anyway. When the Fed Chairman mutters that stocks are “highly valued,” what he’s really saying is: the punch bowl is about to be pulled. U.S. stocks dropped, with the S&P 500 falling 0.55% and the Nasdaq nearly down a full percent as investors panicked over valuations—and skepticism mounted around Nvidia’s $100 billion OpenAI gamble. Europe and the U.K. followed the U.S. down, though Asia had a more mixed day. UBS’s Paul Donovan put it bluntly: “Powell apparently just wants investors’ confidence to be somewhat less certain.” No kidding. And when confidence evaporates, money flees to the…
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