Indexes Skid On Hawkish Powell; Delta Air, Canadian Solar, Freeport-McMoRan In Focus

The major indexes fell sharply after Fed chief Jerome Powell signaled rates will go higher and faster than previously expected. The Nasdaq composite fell below its 21-day moving average while the S&P 500 tumbled through its 21-day and undercut its 50-day line. Delta Air Lines gained altitude and Canadian Solar held up on solid days for those sectors. But Freeport-McMoRan sold off as miners tumbled. Learn more about your ad choices. Visit megaphone.fm/adchoices