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.