The market is digesting Powell's speech, with all three major U.S. stock indexes falling.

As Wall Street evaluates the news conference of Federal Reserve Chairman Powell, the US stock market has turned into a downward trend. The Dow Jones Industrial Average fell by 290 points, a decrease of 0.65%; the S&P 500 index fell by 0.35%; the Nasdaq Composite index fell by 0.11%. As Powell talked about the potential impact of tariffs on inflation and stated that the Fed has not made a decision on a possible rate cut in September, the stock market further declined. According to the CME Group's FedWatch tool, traders predict a 56% probability of a rate cut by the Fed in September, lower than yesterday's 63%. As investors sell bonds, the yields on 2-year, 10-year, and 30-year US Treasury bonds have all increased. Jeffrey L. Roch, Chief Economist at LPL Financial, stated in a report, "The Federal Open Market Committee has paved the way for action at the next meeting. If economic conditions weaken, the committee is likely to cut rates by 25 basis points in September."