Federal Reserve Chairman Jerome Powell delivered a clear and concise message to the markets shortly before 3 p.m. (Eastern Time) on Wednesday: some inflation is expected soon.
Some stocks experienced a momentary sell-off, more or less. But ultimately, the market shrugged it off. At 3:30 p.m. (EST), the Dow and the S&P 500 were trading in a volatile and sideways manner. The latter, a leading index, seems to enjoy staying just a few points below 6,000 points. It wouldn't rise much more. By the close on Wednesday, the S&P 500 recorded a slight loss of 0.03%.