Stock Market Update

[BRIEFING.COM] The major averages continue to chart session lows following the conclusion of Fed Chair Powell's press conference. Mr. Powell noted to "take SEP forecasts now with a grain of salt" as "they are subject to a very high level of uncertainty."

While investors digest Fed Chair Powell's commentary, a notable earnings report from Micron (MU 464.84, +3.15, +0.68%) awaits after the close. The stock is up 63.2% for the year, which could lead to some volatility regardless of how the company's earnings report lands. Memory storage names such as Micron and Sandisk (SNDK 754.91, +34.74, +4.82%) have been a point of relative strength today, though the broader information technology sector (-1.0%) sits at session lows.