Closing Bell: Fire in the hole! Stocks plummet on Powell speech 8/26/22

The major averages fell hard in Friday trading, with the selloff sparked by Fed Chair Powell’s speech in Jackson Hole. Fed watchers David Zervos and Peter Boockvar parse through the speech for clues about the Fed’s rate policy. Evercore’s Mark Mahaney breaks down the pain for big tech. Canaccord’s Tony Dwyer discusses the outlook for the markets. And LightShed’s Brandon Ross joins to talk about EA – which bucked the downtrend on M&A rumors.