Stock Market Today: S&P 500 Snaps Win Streak After Hawkish Powell Speech

Stocks were choppy for most of the day, but closed solidly in the red after Powell reiterated that the Fed will proceed carefully.

US Federal Reserve Chair Jerome Powell standing at podium in front of group giving a speech
(Image credit: Alex Wong/Getty Images)

Stocks struggled for direction for most of Thursday following a red-hot run that saw the S&P 500 and Nasdaq Composite carve out their longest daily win streaks in two years. 

The main indexes took a decisive turn lower in mid-afternoon trading, however, thanks to a hawkish speech from Federal Reserve Chair Jerome Powell.  

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.