Fri Nov 15 20:24:00 UTC 2024: ## US Stocks Dip on Tech Weakness, Awaiting Powell’s Speech
**New York, NY** – US stocks fell Friday, extending Thursday’s losses, as investors anxiously awaited a speech by Federal Reserve Chairman Jerome Powell. The Dow Jones Industrial Average (DJIA) closed down 176 points (0.4%), the S&P 500 dropped 39.5 points (0.7%), and the Nasdaq Composite shed 220.1 points (1.2%).
The decline was largely driven by weakness in the technology, healthcare, and consumer discretionary sectors. Tech giants like Apple (down 1.3%) and Microsoft suffered significant losses, contributing heavily to the Nasdaq’s slump. However, gains in energy and financial stocks, including Walt Disney (up 3.5%) and JPMorgan Chase, partially offset the broader market downturn.
Investors are closely monitoring Powell’s speech, scheduled for later Friday, for clues about future interest rate decisions. This follows the Federal Reserve’s recent 25-basis-point rate cut. The market is hoping for further rate reductions to stimulate economic growth. The current uncertainty surrounding interest rate policy is adding to the market volatility.
First Piper 