Wall Street stocks experienced their third consecutive day in the red on Wednesday, after Federal Reserve chair Jerome Powell warned Congress that further rate hikes would be needed this year to combat inflation.
Wall Street's leading indices concluded Tuesday's trading session with losses following a long holiday weekend, as investors kept a cautious stance ahead of Federal Reserve Chairman Jerome Powell's upcoming Congressional testimony.
Stock markets on Wall Street wrapped up trading on a strong note on Tuesday, bolstered by cooler-than-expected consumer inflation data that fuelled expectations of the Federal Reserve holding off on interest rate hikes at its imminent meeting.