Stocks Fall on Drag From Powell Comments, Tech Woe: Markets Wrap
- Fed chair signals some concern over rate of inflation
- Tech stocks decline on Snap’s warning over ad spending
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U.S. equities fell on Friday after the chairman of the Federal Reserve signaled some concern about inflation.
The S&P 500 slid 0.1% and the Nasdaq 100 retreated 0.9% as Jerome Powell said the central bank was monitoring price pressures carefully and would adapt accordingly.