Stocks Waver as Fed Chairman Testifies

U.S. stocks wavered amid a second day of testimony from Federal Reserve Chairman

Jerome Powell

after he warned that rapidly rising interest rates threatened a recession. 

The S&P 500 was roughly flat at midday Thursday. The technology-heavy Nasdaq Composite Index rose 0.6%, while the blue-chip Dow Jones Industrial Average fell 0.3%. 

Investors have mostly shed riskier assets in recent days, prompted by growing concerns that efforts by the Federal Reserve to…

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