IT stocks came under pressure on Monday after US Federal Chair Jerome Powell’s comments suggesting a slowdown in interest rate cuts. Powell highlighted persistent inflation and a strong economy, allowing the Fed to approach decisions cautiously. Indian IT stocks, sensitive to US market moves, saw declines of up to 5%, with major companies like LTIMindtree and Wipro hit hardest.
Donald Trump’s Fed tour ends with relief for Jerome Powell
There’s “no tension” with Powell, Trump said after the Thursday tour – which featured the two men publicly trading barbs over the cost of a