Wall Street, Federal Reserve System
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The heaviest weight on the market was Nvidia, whose chips are powering much of the move into AI. It sank 3.5%.
The week’s biggest news for Wall Street is likely arriving on Friday, when Federal Reserve Chair Jerome Powell will give a highly anticipated speech in Jackson Hole, Wyoming. The setting has been home to big policy announcements from the Fed in the past, and the hope on Wall Street is that Powell will hint that an interest rate cut is coming soon.