Stocks sink as Fed Chair doubles down on rate hikes

  • Stocks sink as Fed Chair doubles down on rate hikes

    U.S. stocks opened sharply lower after Federal Reserve Chairman, during a morning speech, reiterated the fight against inflation using more rate hikes. All three of the major benchmark averages fell led by technology and consumer discretionary companies. In commodities, oil rose over 1% to the $82 per barrel level.

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