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Business Matters: US stock markets down after Powell's interest rate warning

US stock markets down after Powell's interest rate warning

27/08/2022 GMT

BBC World Service - Business Matters, US stock markets down after Powell's interest rate warning

Jerome Powell conceded that getting inflation under control would come at a cost

Stock markets in the US ended the week sharply down following tough comments by the head of the country's central bank, the Federal Reserve.

Warner Brothers Discovery has shelved the nearly completed Batgirl movie in a series of cancellations and major changes involving high-profile DC projects.

Moderna said it is suing Pfizer and its German partner BioNTech for patent infringement linked to the development of the first Covid-19 vaccines.

California is to ban the sale of new petrol-only vehicles by 2035, which is aimed at forcing car makers to accelerate the introduction to the market of cleaner vehicles.

(Powell's words sent US stocks into a tailspin. Credit: Getty Images)

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