US STOCKS-S&P 500 sinks to two-year low as bear market deepens
Yahoo! Finance
Wall Street sank deeper into a bear market on Tuesday, with the S&P 500 hitting a two-year intraday low as Federal Reserve policymakers showed an appetite for more interest rate hikes, even at the risk of throwing the economy into a downturn. With the Fed signaling last week that high interest rates could last through 2023, the benchmark S&P 500 erased the last of its gains from a summer rally and touched lows last seen in late November 2020.
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