NEW YORK, April 7 — Wall Street stocks tumbled for a second straight session Wednesday as Federal Reserve meeting minutes added to expectations for aggressive central bank monetary tightening.
Officials also discussed lowering their bond holdings by a total of US$95 million per month as soon as the upcoming May 3-4 meeting, according to the minutes. “The markets remain unnerved by the economic implications of a highly aggressive Fed and a potential policy mistake,” said a note from Charles Schwab.The broad-based S&P 500 slid 1.0 per cent to 4,481.15, while the tech-rich Nasdaq Composite Index shed 2.2 per cent to 13,888.82.
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