Possible summary and simplification of the article are:

Key points:
- US stock futures fall as Fed chief Jerome Powell maintains a hawkish tone on interest rates
- Soft economic data from China and rate uncertainty weigh down Asian markets, but Japan and Taiwan rise
- European stocks mostly higher in late morning trading

Summary (for 7 years old):
Some people who control the money in the US want to make it harder for businesses and families to borrow money by raising interest rates. This makes some investors worried that the stock market might go down, so they sell their shares before they lose value. Meanwhile, China's economy is not doing very well, and other countries are unsure about how much the US will change its interest rates, so some Asian markets also fall, but Japan and Taiwan do better. In Europe, most places are making money from their businesses, so their stock prices go up. Read from source...

- The title of the article is misleading and sensationalist. It implies that Jerome Powell, the Fed chief, has the power to ruin Wall Street's party, which is an exaggeration and oversimplification of the complex relationship between monetary policy and financial markets. A more accurate title could be "Will Tighter Monetary Policy Dampen Wall Street's Momentum?" or something similar.
- The article does not provide any evidence or data to support the claim that Powell is maintaining a hawkish tone ahead of more earnings. It cites stock futures and Treasury note yields as indicators of market sentiment, but these are volatile and noisy measures that can be influenced by many factors other than monetary policy. A better analysis would include actual earnings reports, economic data releases, and Fed statements to gauge the impact of Powell's stance on Wall Street's performance.
- The article also does not explain why a hawkish tone from Powell is necessarily bad for Wall Street. It implies that higher interest rates and tighter monetary conditions would hurt corporate profits, consumer spending, and economic growth, but it does not provide any reasoning or empirical support for this view. A more balanced perspective would consider the potential benefits of a less accommodative policy, such as curbing inflation, reducing asset bubbles, and promoting financial stability.
- The article uses emotional language and hyperbole to describe Powell's actions and intentions. For example, it says that he "spooked" investors, "roiled" markets, and "threatened" Wall Street's party. These words convey a negative tone and suggest that Powell is acting out of malice or ignorance, rather than following his mandate of maintaining price stability and maximum employment. A more objective and respectful approach would acknowledge the challenges and trade-offs that Powell faces in setting monetary policy, and the uncertainty that surrounds the future economic outlook.