After three weeks of unrelenting declines, U.S. stocks were poised to slide into the market’s “danger zone” on Monday.

The U.S. central bank will be in no rush to cut interest rates while it waits for more clarity on how the policies of the new Trump administration affect the economy, Federal Reserve Chair Jerome Powell said at an economic forum in New York City on Friday.

Federal Reserve Chair Jerome Powell was speaking at a conference in New York, where he said the central bank was still in "no hurry" to change rates.