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Dow drops 1,100 points for its biggest decline since 2020 as the sell-off this year on Wall Street intensifies

Summary by Ground News
Investors are calling for a three-quarter-point rate hike at the conclusion of the Fed's June meeting. The Dow shed more than 1164 points, or 3.6%, its biggest loss since 2020. The broader market lost 4%, putting the S&P 500 on the precipice of bear market territory. The Fed could hike rates to 5% by the time it ends the current bout of tightening.

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Bias Distribution

  • 44% of the sources are Center
44% Center
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CNBC broke the news in United States on Tuesday, May 17, 2022.
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