US Stocks, Bonds Drop as Fed Signals Further Hikes: Markets Wrap
- S&P 500 ended the session down 0.9%; Nasdaq 100 also fell
- Investors are digesting comments from Fed’s Brainard, Waller
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US stocks ended a choppy session lower after two Federal Reserve officials highlighted the central bank’s resolve to be persistent until it brings inflation down meaningfully.
The S&P 500 was down 0.9%, snapping a two-day rally. The tech-heavy Nasdaq 100 also fell. Treasury yields climbed, with the 10-year rate around 3.87%.