Trader Edward Curran (right) works on the floor of the New York Stock Exchange on Monday. As Treasury yields topped 3 percent on Tuesday, the Dow Jones industrial average tumbled.
Steelworkers leave a plant at the end of their shift in Bethlehem, Pa., in 1947. Employment in the industry has declined by 80 percent from its peak six decades ago, according to author Douglas Irwin.
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A shopper makes a purchase at the J.C. Penney store in North Riverside, Ill., Nov. 17. U.S. consumer spending grew in the fourth quarter at its fastest pace in three years.
Federal Reserve Board Chairman Jerome Powell testifies during a Senate banking committee hearing in Washington, D.C., on March 1. This week, Powell presided over a Fed policy meeting for the first time since becoming chairman.
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Federal Reserve Chairman Jerome Powell testifies Tuesday before the House Financial Services Committee in Washington. "My personal outlook for the economy has strengthened since December," he said.