NEW YORK: US stocks tumbled while the dollar rallied Thursday following hawkish comments from the head of the Federal Reserve that exacerbated worries over higher interest rates, offsetting a lift from a resurgent airline industry.
With bourses in Paris and Frankfurt winning solid gains, Wall Street equities had opened higher following good results from Tesla and upbeat comments from leading airlines.
But US stock markets reversed course at mid-session, and ended decisively lower as the yield on the 10-year US Treasury note rose above 2.9%.
Fed Chair Jerome Powell, who has signaled the US…
