Tear gas and protests as pension strikes in France impact electricity and fuel supplies

Reuters

Stocks rise, dollar slips on Powell comments seen as dovish

Global equities rose and the dollar fell on Tuesday, reversing earlier moves, as the market perceived comments by the Federal Reserve chair to be dovish, even after he reiterated fighting inflation will require higher interest rates and more time. Powell said disinflation has started and that he expects significant declines in inflation this year, remarks that echoed what he said after a policy-setting meeting last week that many in the market thought the Fed chair would walk back. Powell's remarks at the Economic Club of Washington fed investor hopes for an easing of monetary tightening even as he reiterated getting inflation back to the Fed's 2% target will take time and will not be painless.