https://www.wnd.com/2022/09/major-averages-close-1-lower-yields-rise-ahead-fed-rate-decision/

(Image by Oleg Gamulinskiy from Pixabay)

WND is now on Trump’s Truth Social! Follow us @WNDNews

(CNBC) — Stocks tumbled on Tuesday as the sell-off on Wall Street mounted and investors braced for another large rate hike due out Wednesday from the Federal Reserve.

The Dow Jones Industrial Average shed 313.45 points, or 1.01%, to settle at 30,706.23. The S&P 500 slid 1.13% to 3,855.93 and the Nasdaq Composite slumped 0.95% to 11,425.05.

The Federal Open Markets Committee began its two-day policy meeting on Tuesday, where central bankers are expected to announce a 0.75 percentage point rate hike on Wednesday. Stocks have slumped in recent weeks as comments from Fed Chair Jerome Powell and an unexpectedly hot August consumer price index report caused traders to prepare for even higher rates until inflation cools.

TRENDING: Amid porn debate, Jill Biden makes stunning remark on school libraries

Read the full story ›

You Might Like
Learn more about RevenueStripe...