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Benzinga
Benzinga
Business
Henry Khederian

Markets Fall Sharply Amid Ongoing Rate Hike Concerns

Nasdaq US Federal Reserve Inflation Powell

The S&P 500 traded lower for the third week in a row as investors brace for a potential 0.5% interest rate hike by the Federal Reserve.

U.S. indices traded sharply lower Friday on continued weakness following comments from Federal Reserve Chair Powell suggesting a rate hike of 50 basis points is possible for May. The Fed has indicated it may move quicker on rate hikes to curb inflation.

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