HONG KONG — The panic that has gripped Wall Street abated on Tuesday, with stocks rising in early trading after a decline that had left the market at its lowest point in more than a year. When the Fed chairman, Jerome H. Powell, seemed to suggest in early October that the central bank was intent on raising interest rates, stocks plunged. Weeks later, when he made comments that were taken as an indication that the rate increases were near an end, stocks rallied. Early Tuesday, President Trump repeated his plea with the Fed not to raise rates. Pointing to an editorial in The Wall Street Journal that argues against a final rate hike for 2018, Mr. Trump urged on Twitter that Fed officials avoid “yet another mistake.”

Source: New York Times December 18, 2018 10:06 UTC