A sharp drop in US stock indices
Al-Anbat -
Al-Anbat -Noor Almasri
U.S. stock indices fell sharply on Tuesday by 700 points after statements of a close interest rate hike by the US Reserve Bank (U.S. Reserve)
The average Dow Jones Industrial Average, just before the end of the day, fell more than 580 points to 32,851, the S&P 500 fell 66 points to 3,981, and the Nazdaq, which focuses on heavy technology, also dropped 160 points to 11,513.
Federal Reserve Chairman Jerome Powell noted in remarks today a larger rate increase of half a point this month, adding that officials are likely to raise interest rates higher than they previously expected to fight inflation in a stronger economy.
