By Samuel Indyk

LONDON (Reuters) -What matters in U.S. and global markets today

By Samuel Indyk, Equities Reporter, Finance and Markets Breaking News, EMEA

Wall Street snapped a three-day streak of record closes as Federal Reserve Chair Jerome Powell struck a measured tone on future rate cuts, balancing inflation risks with a weakening labor market. His remarks, which offered little clarity on the timing of further easing, triggered a broad pullback in equities, particularly in tech. Asian markets rebounded overnight, led by Chinese AI enthusiasm, while U.S. futures edged higher, suggesting a tentative rebound.

* Powell reiterated the Fed’s delicate balancing act between inflation and employment, calling the policy outlook “a challenging situation”. While he left the door open for more

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