Stocks dropped at the open and continued to drop all day after Fed Chair Powell said he sees significant downside risks and uncertain times ahead. In economic news, the Producer Price Index fell 1.3% in April, more than the 0.5% expected drop.
Dow Jones -517 at 23,247
S&P 500 -50 at 2,820
NASDAQ -139 at 8,863
The 10 Year Treasury closed down 3 basis points yielding 0.65%
Oil prices closed down $0.26 ending at $25.52 a barrel
Gold prices closed up $16 ending at $1,723 an ounce
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