September 23, 2025
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10:03Now PlayingWatch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Carol Massar and Tim Stenovec.
Wall Street traders drove stocks down from all-time highs, with Federal Reserve Chair Jerome Powell offering no hints on whether he might support a rate cut at the central bank’s October meeting. Bonds held gains.
Following a series of records, equities took a breather amid a slide in big tech. Powell said the outlooks for the labor market and inflation face risks, reiterating his view that policymakers likely have a difficult road ahead as they weigh further interest-rate cuts.
While most shares in the S&P 500 rose, the index slipped. A gauge of tech megacaps lost 1.5%. In late hours, Micron Technology Inc. gave an upbeat forecast. Ten-year yields slid four basis points to 4.11%. The dollar wavered. Gold held its record. Oil climbed amid tensions between NATO and Russia.
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