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Dow slumps more than 1,000 points as traders digest Fed rate rise
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fnlondon.comUS stocks fell sharply, led by technology and other growth stocks, as investors assessed the implications of Federal Reserve’s most aggressive tightening of monetary policy in more than two decades.
The S&P 500 dropped 3.7% as losses accelerated in midday trading Thursday. The tech-focused Nasdaq Composite Index fell 4.9%, and the Dow Jones Industrial Average retreated 3.2%, or 1,080 points. All three indexes are on track to erase Wednesday’s gains.
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