Shares of energy companies fell sharply after Federal Reserve Chairman Jerome Powell poured cold water on market hopes for a March rate cut.
The Fed left rates unchanged, as widely anticipated, but Mr. Powell pushed back on market speculation about the central bank's rate-cutting plans, insisting that the central bank would respond to data.
Mr. Powell said it was unclear whether inflation was falling sustainably.
Israel and Hamas are considering a three-stage deal that would release hostages in Gaza beginning with a six-week cease-fire, according to officials with knowledge of the draft agreement hashed out by international intelligence chiefs in Paris this week.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-31-24 1723ET
