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4:05pm: US stocks slide after record day Wall Street retreated on Friday afternoon after Federal Reserve Chair Jerome Powell commented that the central bank was “on track to begin a taper of our asset purchases that, if the economy evolves broadly as expected, will be completed by the middle of next year” at a virtual event hosted by the South African Reserve Bank Friday. Investors reeled, sending the S&P 500 and the Nasdaq lower despite the former reaching a record intraday high.
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