Stock losses deepen after Fed hints at faster aid pullback

By DAMIAN J. TROISE
AP Business Writer

Stocks fell further on Wall Street Tuesday after the head of the Federal Reserve said the central bank is considering hastening a plan to ease support for the economy even as investors worry about the impact of a new coronavirus variant. The S&P 500 fell 1.8% and the Dow Jones Industrial Average fell 1.8%. Markets had opened lower after the head of Moderna told the Financial Times that he expected current vaccines would struggle with the omicron variant. Stock losses accelerated after Jerome Powell said that the Fed will consider acting more quickly to dial back its stimulus as inflation pressures mount.