U.S. stocks dropped Wednesday after Federal Reserve Chairman Jerome Powell said the government may need to spend more to support the economy amid signs that recovery from the coronavirus-induced contraction will take longer than initially thought. The S&P 500 fell 0.5%, adding to its losses after the broad U.S. stock index fell more than 2% Tuesday. The Dow Jones Industrial Average lost 0.9%.

Source: Wall Street Journal May 13, 2020 04:10 UTC