AMC Entertainment Holdings AMC.N also jumped. Powell told lawmakers on Wednesday it may take more than three years to reach the central bank's inflation goals, a sign the Fed plans to look beyond any post-pandemic spike in prices and leave interest rates unchanged for a long time to come. The S&P 500 Growth index .IGX, which includes most of the high-flying technology-related stocks, has come under pressure in the last few days due to valuation concerns, elevated Treasury yields and an investment shift into more economy-sensitive parts of the market.