Skip to Content

Stocks drop sharply as market eyes Fed, Ukraine tensions

<i></i><br/>
KMIZ

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

NEW YORK (AP) — Stocks fell sharply as investors anticipate inflation-fighting measures from the Federal Reserve and fret over the possibility of conflict between Russia and Ukraine. Stocks extended their three-week decline on Wall Street and put the benchmark S&P 500 on track to close in what the market considers a correction _ a drop of 10% or more from its most recent high. The Dow Jones Industrial Average dropped more than 1,000 points at one point. Stocks have fallen for much of this year as the market readies for the Fed to raise interest rates to try to tame inflation, which is at its highest level in nearly four decades. 

Article Topic Follows: AP National Business

Jump to comments ↓

associatedpress

BE PART OF THE CONVERSATION

ABC 17 News is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content