Wall St sinks as hopes fade for rate cuts, trade progress

Reuters - Wall Street stock indexes fell on Tuesday (June 25), led by a sharp selloff in technology shares, as simmering trade concerns and disappointing economic data sent buyers to the sidelines, while the Federal Reserve chairman pushed back on pressure from President Donald Trump to cut interest rates. All three major U.S. stock indexes ended the session in the red after Powell said the Fed was grappling with whether trade uncertainties and other issues warrant rate cuts. The Dow Jones Industrial Average fell 179.32 points, or 0.67%, to 26,548.22, the S&P 500 lost 27.97 points, or 0.95%, to 2,917.38 and the Nasdaq Composite dropped 120.98 points, or 1.51%, to 7,884.72.