U.S. markets fell slightly from record highs Monday after Federal Reserve Chairman Jerome Powell warned of “elevated” assets.
The Dow Jones Industrial Average slid 55.2 points, or 0.16%, while the S&P 500 dropped 0.02% and the Nasdaq Composite closed the day down 0.36%.
Markets responded to comments Powell made on CBS’ 60 Minutes on Sunday evening declaring he was monitoring the stock market as prices have risen to historic heights.
“We do look at asset prices. And I would say, you know, some asset prices are elevated by some historical metrics,” he said.
Powell added, however, there are people who believe the “stock market is not over-valued, or it wouldn’t be at this level.”
He also reiterated that the central bank would remain committed to its easy money policy.