⚠️BREAKING: *DOW TUMBLES 500 POINTS AS U.S. STOCKS END LOWER ON HAWKISH FED REMARKS, CHINA UNREST $DIA $SPY $QQQ 🇺🇸🇺🇸
Federal Reserve Bank of St. Louis President James Bullard said markets were “underpricing risk that the FOMC will have to be more aggressive rather than less aggressive in order to tame the substantial inflation in the U.S.”
The remarks soured investor sentiment further, pushing the broader market deeper into the red following a tepid start to the week amid reports of social unrest in China over Covid restrictions.
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