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Trump Rally Fades on Hawkish Powell, Hot Econ Data: Nov. 15, 2024

Stocks are facing heavy selling pressure as the Trump rally shows signs of fading. On the one hand, investor sentiment is souring following Fed Chief Powell commenting yesterday that the central bank isn’t in a hurry to lower borrowing costs, despite the institution lightening its key benchmark by 75 bps in just the last eight weeks.

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