Stock Market Update
17-Jun-26 15:35 ET
Market moves lower in broad fashion as rate cut hopes evaporate
Dow -504.93
at 51494.74,
Nasdaq -309.12
at 26088.21,
S&P -91.23
at 7420.12
[BRIEFING.COM] The major averages continue to chart new session lows as the market enters the final half hour of the session. All eleven S&P 500 sectors now trade lower.
The late selling reflects a market that is coming to terms with the idea that it will not receive a rate cut in 2026, as Fed Chair Kevin Warsh made it clear the committee will deliver price stability, noting that inflation has been running well ahead of the Fed's long-term goal of 2.0%.
