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Stocks end lower as global central banks follow Fed in hiking rates

stocks end lower as global central banks follow fed in hiking rates

U.S. stocks ended lower Thursday, adding to sharp declines suffered the previous session after the Federal Reserve delivered a 75 basis point rate hike and signaled significant further tightening ahead. A number of other major central banks, including the Swiss National Bank and the Bank of England, delivered rate hikes on Thursday as investors fret that monetary tightening will lead to a sharp economic slowdown or recession. The Dow Jones Industrial Average DJIA, -0.35% fell around 108 points, or 0.4%, to finish near 30,076, according to preliminary figures. The S&P 500 SPX, -0.84% ended 0.8% lower near 3,758, while the Nasdaq Composite COMP, -1.37% slumped 1.4% to close near 11,067.

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