By CCN: The Dow floundered on Thursday as the US stock market struggled to mount a convincing recovery from Wednesday’s triple-digit pullback. Meanwhile, the Federal Reserve continues to flex its independence, with Chair Jerome Powell refusing to bow to President Trump’s presumptuous demand that he cut interest rates. Dow Quakes After Fed Defies Trump Rate Cut Demand Powell’s move rattled the stock market and continued to weigh on major indices on Thursday morning. As of 9:37 am ET, the Dow Jones Industrial Average had lost 29.81 points or 0.11%; the DJIA last traded at 26,400.33. The S&P 500 traded sideways,
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