Stock Market Today: Tech Leads Sell-Off As Rate-Cut Odds Fall on Powell

• More than half of the stock market’s post-Trump-election rally has been erased.
• The turning point came Thursday, when Fed Chair Powell said the central bank will take its time cutting rates.
• That, plus a streak of strong economic data, has investors questioning whether a December cut is necessary.

And just like that, half of the stock market’s euphoric post-Trump-election gain is gone.

Major US indexes sold off sharply on Friday, with the tech-heavy Nasdaq leading the way, as investors came to terms with the fact that they may not get a Decembe