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Worst Day for Wall Street in Over Two Years
New York stocks posted a rout with the Dow down over 1,250 points, the S&P 500 slipping 4.3 percent, and the Nasdaq down 5.2 percent as inflation data prompted fears of further Fed rate hikes. Bond yields rose while oil and gold fell, rattling investors and sapping a four day rally. The report cites 8.3 percent inflation in August and a potential move to a steeper rate path, with analysts noting the economy faces a harder landing and possible recession risks.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Federal Reserve
Brian Jacobsen
Allspring Global Investments
Fed
Tom Martin
Global Investments
Gargi Chaudhuri
iShares
Russell Evans
Avitas Wealth Management
Washington
US S
Laura Rosner-Warburton
Macro Policy Perspectives
Jerome Powell
Joe Biden
Russia
Ukraine
Biden
Mary Jane Crouch
America
Georgia
Crouch
Rosner-Warburton
Elaine Buckberg
General Motors
Buckberg
Goldman Sachs
Meaghan Thomas
Louisville
Kentucky
Thomas