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Investing.com |The Energy Information Administration (EIA) has released its latest Natural Gas Storage report, providing an insight into the state of the...
The Trump administration has taken another step toward expanding American crude oil production and exports, approving a second deepwater oil loading terminal...
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Major U.S. stock indexes had their worst performances in almost a week on Wednesday, with the Dow Jones Industrial Average closing down by almost 700 points, after Federal Reserve Chair Jerome Powell pointed to the possibly detrimental impacts of tariffs.
Powell said officials face a challenging scenario of rising inflation amid labor-market weakening, and they can wait for greater clarity before making any adjustments to interest rates.
The Fed chair "was basically saying that to get the economy back on track, there's probably going to be difficult trade-offs," said Ryan Jacobs, founder of Florida-based advisory firm Jacobs Investment Management. "Any measures he could take to help the economy would be inflationary, which might lead to a lasting unstable market. I don't think the trade war is over anytime soon, and I think we are in the position of moving toward higher inflation.''
The Dow Jones Industrial Average fell 699.57 points, or 1.7%, to finish at 39,669.39, based on preliminary data.
The S&P 500 dropped 120.93 points, or 2.2%, to end at 5,275.70.
The Nasdaq Composite declined 516.01 points, or almost 3.1%, to close at 16,307.16.
It was the worst day for all three indexes since last Thursday.
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Presidio Petroleum is preparing to enter the public markets through a strategic merger with...
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by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
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