The new date is Jun 23, 2022.
European stocks and U.S. stock futures fell early on Thursday after the Federal Reserve Chairman said that a downturn was a possibility.
The London Stock Exchange's benchmark index fell more than 0.7% after markets opened.
After markets opened on Thursday, the London Stock Exchange's 100 index was down more than 0.7%.
After markets opened, the pan- European Stoxx 600 Index was down more than 1%.
When markets closed on Thursday, Hong Kong's Hang Seng index was up 1.26 percent, while the Tokyo Stock Exchange's Nikkei225 was up 0.05%.
The benchmark S&P 500 index was down by 2% in premarket trading on Thursday, while the DOW Jones index was down by 1%.
The global price of crude oil fell below $110 per barrel.
Powell told Congress on Wednesday that the Fed is committed to raising interest rates until the country's high inflation numbers are normalized. Powell said that a recession is a possibility because of the central bank's rate hikes. The Federal Reserve raised interest rates by 75 basis points last week. Financial institutions warned of an imminent recession after the rate hike. Powell stated that the central bank was not trying to induce a recession but was focused on bringing inflation down to a target rate of 2%.
Powell says that there is compelling evidence that inflation is slowing.
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