• Stocks whacked in selloff, Nasdaq erases 2021 gains

    U.S. stocks had a wild ride after Fed Chair Jerome Powell foreshadowed a scenario in which inflation may rise as the economy opens up, but he did not signal further bond buying disappointing the markets. The Dow ended down 346 points, fighting back from a 700 point deficit. While the S&P fell 1.3% and the Nasdaq 2.1%, erasing all of 2021’s gains.

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