“Dow slides 300 points as Fed policy meeting begins, rates surge”
September 20, 2022
“…The Dow Jones Industrial Average fell 340 points, or 1.1%. The S&P 500 shed 1% and the Nasdaq Composite slid 0.7%.
The Federal Open Markets Committee begins its September meeting on Tuesday, where central bankers are expected to announce a 0.75 percentage point rate hike on Wednesday. Stocks have tumbled in recent weeks as comments from Fed Chair Jerome Powell and an unexpectedly hot August consumer price index report caused traders to prepare for even higher rates until inflation cools.
Rates marched higher on Tuesday with the yield on the 2-year Treasury note notching a fresh high dating back to late 2007. The yield on the 10-year Treasury traded at 3.593% — near levels not seen since 2011…”
https://www.cnbc.com/2022/09/19/stock-market-futures-open-to-close-news.html