Stocks fall for 2nd day, Nasdaq slides another 2% as Fed gives policy tightening plans
(CNBC) -- Stocks fell for a second day on Wednesday and rates soared to new heights after the Federal Reserve gave more guidance on how fast it will tighten monetary policy to fight inflation, raising concerns it may slow the economy. The Dow Jones Industrial Average traded about 100 points lower, or about 0.5%, after…
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(CNBC) -- Stocks fell for a second day on Wednesday and rates soared to new heights after the Federal Reserve gave more guidance on how fast it will tighten monetary policy to fight inflation, raising concerns it may slow the economy.
The Dow Jones Industrial Average traded about 100 points lower, or about 0.5%, after falling more than 300 points following the release of minutes from the Federal Reserve’s recent meeting. The S&P 500 slid 1%, and the Nasdaq Composite pulled back by 1.7%.
“It was a warning to anyone who thinks that the Fed is going to be more dovish in their fight against inflation,” said Quincy Krosby, chief equity strategist at LPL Financial. “Their message is, ‘You’re wrong.’”
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