U.S. stocks fall after Fed’s Powell says 2022 rate hikes on the cards By Reuters

U.S. stocks fall after Fed's Powell says 2022 rate hikes on the cards By Reuters
2/2 U.S. stocks fall after Fed's Powell says 2022 rate hikes on the cards © Reuters. FILE PHOTO: Pedestrians wearing face masks walk near an overpass with an electronic board showing stock information, following an outbreak of the coronavirus disease (COVID-19), at Lujiazui financial district in Shanghai, China March 17, 2020. REUTERS/Aly 2/2

By Koh Gui Qing and Karin Strohecker

NEW YORK/LONDON (Reuters) – U.S. stocks deepened losses on Tuesday after Federal Reserve Chairman Jerome Powell said the central bank was likely to raise interest rates this year, remarks that tempered demand for risky assets and lifted bond yields.

By 1553 GMT, the fell 0.57%, the lost 0.52%, and the dropped 0.41%.

European shares fared better, with the pan-European index rising 0.69%, while MSCI’s gauge of stocks across the globe shed 0.10%.

In remarks to U.S. lawmakers on Tuesday, Powell said he expected…

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