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Why Exxon Mobil, Harley-Davidson, and General Electric Stocks All Fell 5% Just Now

Rich Smith, The Motley Fool
·2-min read
Why Exxon Mobil, Harley-Davidson, and General Electric Stocks All Fell 5% Just Now

You've got to hand it to Federal Reserve Chairman Jerome Powell -- this guy really knows how to spook a stock market. On Wednesday, the Fed chair warned investors, who have been hoping -- planning even -- on a V-shaped recovery from the recession just as soon as the COVID-19 shutdown is over, that they may have to wait a bit longer for things to improve. "Recovery may take some time to gather momentum," warned Powell, and while that's happening, "the passage of time can turn liquidity problems into solvency problems."

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