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[Markets]
US STOCKS-S&P 500, Nasdaq slip as Fed rate hike worries gain ground
The S&P 500 and the Nasdaq reversed early gains on Friday, with investors piling into defensive sectors while tech and growth stocks took a hit as another Fed official fueled worries of aggressive interest rate hikes. Boston Federal Reserve Bank President Susan Collins, a voting member of the rate-setting committee this year, said that with little evidence of waning price pressures, the Fed may need to deliver another 75-basis point rate hike to get inflation under control.
Published:11/18/2022 12:54:54 PM
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