Chairman Jerome Powell reiterated that there is a long way to go for the US economic rebound, which will likely require more support. Vice-Chairman Richard Clarida and regional Fed chiefs also cited the importance of fiscal policy in speeches. Shares of Amazon (-4.1%) and Apple (-4.2%) both dropped.
Tesla’s (-10.3%) “Battery Day” event fell short of expectations. But Nike (+8.8%) rallied to record highs on strong earnings. Johnson & Johnson’s (+0.2%) first big US trial of a one-dose COVID-19 vaccine pushed its shares higher. The Dow Jones index fell by 525 points or 1.9%. The S&P500 index lost 2.4% and the Nasdaq index dipped 330 points or 3%.
