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US stocks end on positive note

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May 18, 2022 - 11:54 AM

ISTANBUL (AA) – US markets closed higher Tuesday after Fed Chair Jerome Powell’s remarks about fighting high inflation,

“We are going to keep pushing until we see” inflation come back to 2%, he said, adding that the central bank has the tools and the resolve to get it down.

He also signaled new interest rate hikes in coming meetings and said the markets have already priced a series of hikes for the future.

The blue-chip Dow Jones industrial average ended up 1.34%, or 441.17 points, at 32,654.

The S&P 500 rose 80.84 points, or 2.02%, to close at 4,088.

The tech-heavy Nasdaq increased 321.73 points, or 2.76%, to 11,984.

Turkey’s benchmark stock index Borsa Istanbul closed up 0.17% to 2,394.83 points.

Major stock exchanges in Asia and Europe also posted increases.

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