Stocks pare losses slightly; Fed chair vows to support economy as appropriate

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(Reuters) – The S&P 500 pared losses slightly after the U.S. Federal Reserve Chair Jerome Powell said the economy was solid though coronavirus posed a risk and he vowed that the central bank would “use its tools and act as appropriate to support the economy.” {nW1N2AL00A]

The Dow Jones Industrial Average fell 749.36 points, or 2.91%, to 25,017.28, the S&P 500 lost 71.97 points, or 2.42%, to 2,906.79 and the Nasdaq Composite dropped 149.41 points, or 1.74%, to 8,417.07.

Reporting By Sinéad Carew

Our Standards:The Thomson Reuters Trust Principles.

2020-02-28 19:42:18

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