Stocks Rebound Fizzles as Trump Goes on Offensive: Markets Wrap

A rebound in US stocks evaporated this week after Chair Jerome Powell pushed back on the idea of the Federal Reserve stepping in to bolster markets, rankling President Donald Trump who touted a smattering of deals Thursday.

The S&P 500 slumped 1.5% over the four-day span, briefly trimming losses after Trump said there would be a trade deal with the European Union, without giving details or a timeline on when an agreement would be reached. He was more decisive on a critical US-Ukraine minerals accord, saying that a deal would be signed next week. The gains eventually melted away and ...