Stocks Drop for Sixth Session as Rate Woes Persist: Markets Wrap
- Central bank officials restated resolve to stay aggressive
- The S&P 500 swung between gains and losses during the session
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US stocks ended a volatile session lower after a slew of Federal Reserve officials hammered home their resolve to remain aggressive in their fight against inflation.
The S&P 500 dropped for the sixth straight session, its longest losing streak since February 2020, sparked by harsh central bank tightening programs. The index swung between gains and losses throughout the session after the Federal Reserve’s James Bullard added to a chorus of officials saying more rate hikes are needed and the risks to the economy remain elevated.