Wall Street's main indexes closed lower on Friday, with the S&P 500 and Nasdaq notching their biggest one-day losses in two weeks, on concerns about slower interest-rate cuts and as investors reacted to cabinet picks by U.

Stocks finished lower on Thursday, with another afternoon selloff tied to a jump in Treasury bond yields, this time linked to hawkish comments from Fed Chair Jerome Powell. Speaki

Indexes slipped as traders zeroed in on remarks from Fed Chair Jerome Powell, who said the central bank is in no hurry to cut rates amid a strong economy.

Federal Reserve Chair Jerome Powell said Thursday that interest rates are still expected to decline further, but suggested they might not be that much lower over the next few months.

Stocks moved lower after Federal Reserve Chair Jerome Powell said the central bank is in 'no hurry' on rate cuts.

The odds of a 25-basis-point rate cut fell to less than 60% shortly after Powell's comments, down from 80%, as calculated by the CME FedWatch Tool. The probability remained lower, around 58%, on Friday morning.

U.S. stock index futures fell on Friday after Federal Reserve Chair Jerome Powell said there was no need to reduce interest rates in a hurry, pushing up bond yields and pressuring rate-sensitive equities.

The Federal Reserve doesn’t need to rush to lower its benchmark interest rate, Fed Chair Jerome Powell said Thursday.