S&P 500 Averages 16% Drawdown in Six Months After New Fed Chair Takes Office Since 1930, Barclays Says

The S&P 500 has averaged a 16% drawdown in the six months following a new Federal Reserve chair taking office since 1930, Barclays said on Feb. 3. U.S. stocks fell after Donald Trump nominated Kevin Warsh to replace Jerome Powell. If Warsh assumes the role in May, equities could face renewed pressure, the report said.