Stocks tumble as Powell tells markets that March is not the base case for cuts.

<p>The US stocks tumbled lower after Fed Chair Powell told the markets that March is not the base case for rate cuts:</p><p>The final numbers are showing:</p><ul><li>Dow Industrial Average -317.03 points -0.82% at 38150.29. The fall was the largest since December 20, 2023</li><li>S&amp;P index -79.33 points or -1.61% at 4845.63. The fall was the largest since September 21, 2023.</li><li>Nasdaq index -345.90 points or -2.23% at 15164.00. The fall was the largest since October 25, 2023.</li></ul><p>The small-cap Russell 2000 fell -48.89 points or -2.45% at 1947.34</p><p>Looking at some of the large-cap benchmark stocks:</p><ul><li>Nvidia, -2.0%</li><li>Meta-, -2.51%</li><li>Apple, -1.87%</li><li>Alphabet, -7.57%</li><li>Microsoft, -2.73%</li><li>Tesla, -2.28%</li><li>Adobe, -1.63%</li><li>Snowflake, -5.12%</li><li>Cisco, -3.94%</li><li>Amazon -2.40%</li><li>Nike -2.54%</li><li>IBM -2.28%</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.