Dow falls 1,000 points as bets of big rate hikes grow
Nasdaq sinks 5% after Fed fails to ease investor anxiety over tightening
Major stock indexes tumbled sharply Thursday as fears of aggressive monetary tightening spread. © Reuters
(Reuters) — The Nasdaq plunged 5% and the other major U.S. indexes tumbled on Thursday, as Federal Reserve Chair Jerome Powell’s less hawkish tone failed to ease investor expectations of bigger interest rate hikes this year.
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