On Thursday, Nov. 14, U.S. markets ended lower after Fed Chair Jerome Powell dampened hopes for an interest rate cut, citing steady economic growth, a strong job market, and persistent inflation. Traders reduced bets on a December cut, leading to declines in the Dow, S&P 500, and Nasdaq.

Powell’s remarks followed data showing a rise in producer prices for October, slightly higher than expected.

Related: Powell’s Hawkish Remarks Shake Markets: Stocks Fall, Dollar Rockets, Bitcoin Dips

Economic data showed that U.S. jobless claims fell by 4,000 to 217,000 for the week ending Nov. 9, beating estimates of 223,000. Producer prices increased by 0.2% in October, matching market expectations after a revised 0.1% rise in September.

The majority of S&P 500 sectors fell, led by consumer discretionary, industrials, and healthcare. However, tech and energy stocks ended higher.

The Dow Jones Industrial Average was down 0.47% and closed at 43,750.86, the S&P 500 declined 0.50% to 5,949.17, and the Nasdaq Composite slid 0.64% to finish at 19,107.65.

Asia Markets Today

Eurozone at 05:30 AM ET

• The European STOXX 50 index was down 0.23%.
• Germany’s DAX gained 0.14%.
• France’s CAC fell0.04%.
• UK’s FTSE 100 index traded higher by 0.02%.
• European stocks were mixed after weak U.K. growth data, higher French inflation, and hawkish Fed remarks.

Commodities at 05:30 AM ET

US Futures at 05:30 AM ET

Dow futures decreased 0.44%, S&P 500 futures were down 0.63%, and Nasdaq 100 futures fell 0.88%.

Forex at 05:30 AM ET

• The U.S. Dollar Index declined 0.15% to 106.51, USD/JPY was down 0.60% at 155.30, and USD/AUD slid 0.25% to 1.5453.
• The U.S. dollar hit near one-year highs after Fed Chair Powell’s hawkish comments boosted Treasury yields, pressuring equities. The dollar’s surge weighed on the euro, gold, and oil prices.

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