Stocks lose gains on Fed Chair Powell trade policy comments

The Fed raises rates and signals a faster pace ahead. Plus, Facebook can’t shake the fallout as criticism builds—and where’s Mark Zuckerberg? And another nor’easter slams the East Coast. Will Winter Storm Toby ravage the economy too? Plus a look ahead to everything you need to know about tomorrow, today. Catch The Final Round at 3:55 ET p.m. with Jen Rogers and Yahoo Finance Editor-in-Chief Andy Serwer.

Winners and losers

Stocks in the red include Nordstrom as the retailer ended discussions with the Nordstrom family about taking the company private after the two sides could not agree on price; Southwest Airlines as it sees revenue per seat mile staying flat in the 2nd quarter; and General Mills, with shares slipping as the cereal and packaged goods maker beat on earnings but warned on its growth forecast, citing cost pressures.

Stocks in the green include FedEx as the shipper beat on earnings and revenue as package volume climbed 6%; Prothena as the drugmaker struck a deal with Celgene to develop nerve disease treatments; and MuleSoft shares as the software maker agreed to be bought by Salesforce.com for $5.9 billion, excluding assumed debt.