New york: US stocks ended lower ahead of Fed Chairman Jerome Powell's speech at the Jackson Hole Economic Policy Symposium on Friday.

According to Anadolu Agency, the Dow Jones Industrial Average fell 0.34%, or 152.81 points, to close at 44,785.50. The Nasdaq dropped 0.34%, or 72.54 points, to close at 21,100.31, while the S and P 500 slid 0.4%, or 25.61 points, to 6,370.17. Meanwhile, the Volatility Index (VIX), also known as the 'fear index,' rose 5.8% to 16.60.

Investors are focused on the upcoming messages from the Jackson Hole Economic Policy Symposium, which is being hosted by the Fed's Kansas City branch in Wyoming. Market participants are particularly keen to gather insights on the Federal Reserve's future path regarding interest rates, as Powell is expected to address the economic outlook and the monetary policy framework in his speech.

While other Fed officials' statements are being closely monitored ahead of Powell's address, Cleveland Fed President Beth Hammack has stated she would not support lowering interest rates if a monetary policy decision were to be made on Friday. Hammack pointed out that inflation is on an upward trend, indicating no reason to lower rates at this time.

In terms of macroeconomic data, the number of first-time jobless claims in the US rose to 235,000 in the week ending August 16, surpassing market expectations. Additionally, the US Manufacturing Purchasing Managers' Index registered at 53.3 in August, significantly exceeding market forecasts.