Wall Street falls as Powell warns of extended period of weak growth

Wall Street's main indexes fell on Wednesday after Federal Reserve Chairman Jerome Powell warned of an extended period of weak growth and stagnant incomes due to the coronavirus pandemic.

It will take some time for the US economy to get back to where it was, Powell said in a webcast, and called for more fiscal stimulus.

"Powell's doing the right thing by warning people that this is not just going to be a V-shaped recovery," said Sam Hendel, president and co-portfolio manager of New York-based Levin Easterly Partners.

"I think the market may be overstating the ease of returning back