On the New York stock market, the Dow Jones Industrial Average fell on Wednesday as Federal Reserve Chairman Jerome Powell said it was unlikely an interest rate cut in March sparked a selling process centered on technology stocks.

By 21:00 (local time), the Dow Jones Industrial Average fell 317 points (0.8%) and at 16:00, the S&P 500 Index fell 1.6%, and the Nasdaq KOSPI index fell 2.2%. .

The Federal Reserve said it "does not expect to reduce its target range until there is more confidence about inflation and its steady progress toward 2%."

Federal Reserve Chairman Jerome Powell said the committee was unlikely to reach a level of confidence to cut interest rates by the time of its March meeting, but emphasized that future policy decisions would continue to depend on incoming data.

Accordingly, the changed monetary policy outlook arrived following the unchanged interest rate decision, which was mostly expected. However, despite the monetary policy statement being less deviant than expected, the two-year Treasury yield, which is sensitive to federal policy, is still showing a downward trend, falling 9.3 basis points to 4.262%.

The financial policy statement comes after last month's National Employment Survey showed that private sector hiring in January added 107,000 jobs, slightly less than expected, but the JOLTS report released a day earlier showed that job vacancies in December were higher than expected. It was shown that this expectation was exceeded.

Google recorded a decline of over 6% due to sluggish advertising revenue, which failed to deliver as expected. YouTube's parent company Google said it would "significantly increase" spending to strengthen its AI offerings in advertising and cloud services despite better-than-expected fourth quarter results.

Microsoft Corp. fell more than 2% Wednesday. Shares fell Wednesday despite signs that cloud growth was strong despite third-quarter financial guidance falling short of analyst expectations and strong second-quarter results.

Chip industry stocks retreated following AMD's 2% decline. Chipmaker AMD fell after its fourth-quarter results were in line with Wall Street expectations and its published Q1 guidance missed expectations.

Tesla stock fluctuated between rising and falling, then fell 2%. A judge in the U.S. state of Delaware struck down Tesla CEO Elon Musk's $55.8 billion Tesla salary package. He deemed this “incomprehensible amount” of compensation unfair to shareholders.

If the ruling is upheld, Musk would lose 330 million Tesla shares, or about 10% of the company, significantly lowering his previously targeted 25% stake in the company.

Elsewhere, Boeing stock fell 5% as CEO Dave Calhoun delayed releasing its 2024 financial outlook as he said he still had a lot of proving to do to regain the confidence of regulators and passengers after safety issues with the plane earlier this month. recorded an increase exceeding that of