M
Mohamed El-Erian
President at Queens' College, Cambridge
2417012 followers
Interesting late session price action for US stocks. After gaining initially in response to the Federal Reserve statement, they sold off across-the-board during a press conference in which Chair Powell "struggled" on responding to a few questions according to some commentators on CNBC . By the end of the session, the Dow had lost almost all its gain, closing just 0.1% higher. The S&P ended 0.5% and the NASDAQ 1.2% lower. An interesting question for investors for the short-term: With the FOMC meeting out of the way and with this price action, will short sellers challenge current valuations. #markets #equities #investing #stocks #economy #cnbc
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