Powell put begins to fade as equities turn lower again

Stock markets slide again

Stock markets slide again

Powell has certainly given the market everything it wanted and for a moment, that looked like it could be enough but tech selling is starting up again and the Nasdaq is down 2.3%.

Correlations are tight today and the dollar is moving back up as equities sag.

I suspect we’ll have to wait until the end of the day to get some kind of resolution.

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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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