Tech stocks experienced a prominent selloff at the beginning of the week due to waning AI excitement and a 20% decrease in Palantir Technologies Inc. (NASDAQ: PLTR). However, the week concluded with a flourishing rally throughout Wall Street, driven by unexpectedly accommodative messages from Federal Reserve Chair Jerome Powell. The IWM ETF saw a significant upsurge on Friday. During the annual Jackson Hole symposium, Powell highlighted that the current policy remains stringent and job market indicators are deteriorating, potentially leading to a shift in Fed policy towards rate cuts. Despite inflation persisting above the Fed's target of 2%, Powell stressed that there has been a sharp decline in job creation. For more details, refer to the comprehensive coverage on Benzinga.com.