HomeMarketsFed hikes rates 75 bps for 3rd straight time; Wall Street slumps...

Fed hikes rates 75 bps for 3rd straight time; Wall Street slumps on Powell’s hawkish message

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Wall Street’s main indexes see-sawed before slumping in the final 30 minutes of trading to end Wednesday lower, as investors digested another supersized Federal Reserve hike and its commitment to keep up increases into 2023 to fight inflation. All three benchmarks finished more than 1.7% down, with the Dow posting its lowest close since June 17, with the Nasdaq and S&P 500, respectively, at their lowest point since July 1, and June 30.



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