Stock market investors had hoped that the Federal Reserve would look to slow down its pace of interest rate increases, but that seems increasingly unlikely to be in the cards. Testimony from Federal Reserve chair Jerome Powell included comments that suggested a higher trajectory for interest rates than many had thought. That led to declines of between 1% and 2% for the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC), with the Dow somewhat surprisingly doing the worst of the three.

Index

Daily Percentage Change

Continue reading

Source Fool.com