Stock market news live updates: Stocks plunge as rate hikes rattle markets, retail sales miss
https://finance.yahoo.com/news/stock-mar...-114938982.html
Alexandra Semenova·Reporter
Fri, December 16, 2022 at 2:58 AM·5 min read
In this article:

^GSPC -2.49%
^IXIC -3.23%
^DJI -2.25%

U.S. stocks tumbled Thursday as Wall Street reeled from another sizable rate hike by Federal Reserve officials and assessed similar moves by monetary policymakers across the Atlantic. A disappointing reading on consumer spending also weighed on sentiment.

The European Central Bank and the Bank of England followed the U.S. Fed in raising interest rates by 50 basis points Thursday morning. The BoE's hike brought rates in the country to their highest since 2008.
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The S&P 500 (^GSPC) slid 2.7% in midday trading, while the Dow Jones Industrial Average (^DJI) shed more than 850 points, or 2.6%. The technology-heavy Nasdaq Composite (^IXIC) dropped more than 3%.

U.S. Treasury yields edged down, with the benchmark 10-year note falling below 3.5%. The U.S. dollar index nudged higher, and oil prices retreated, with West Texes Intermediate (WTI) crude futures trading around $76 per barrel.-- excerpt, rest at link above --