Dow loses 280, Nasdaq drops 2% as investors fear Fed rate hikes will slow economy

(CNBC) -- Stocks fell on Tuesday, hitting session lows in the final hour of trading amid remarks from Federal Reserve Governor Lael Brainard indicating a more aggressive approach to the central bank’s tightening policy. The Dow Jones Industrial Average lost 300 points, or 0.8%, while the S&P 500 fell 1.3% after posting two straight days…

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(Image by Oleg Gamulinskiy from Pixabay)

(CNBC) -- Stocks fell on Tuesday, hitting session lows in the final hour of trading amid remarks from Federal Reserve Governor Lael Brainard indicating a more aggressive approach to the central bank’s tightening policy.

The Dow Jones Industrial Average lost 300 points, or 0.8%, while the S&P 500 fell 1.3% after posting two straight days of gains. The Nasdaq Composite shed 2.3%, stepping back a 1.9% pop in the prior session.

“Ultimately, the way this is going to work, the economy is going to slow, the stock market has to reflect that,” Mark Zandi, chief economist at Moody’s Analytics told CNBC’s “Power Lunch” on Tuesday. “So I do expect the stock market to have a tough few months here as it ultimately adjusts to what the Fed is doing and will do going forward.”

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The post Dow loses 280, Nasdaq drops 2% as investors fear Fed rate hikes will slow economy appeared first on WND.