Dow industrials turn south as minutes imply Fed could tighten financial conditions sooner and faster in 2022

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U.S. banal benchmarks took a crook little and losses deepened for the Nasdaq Composite Wednesday day aft minutes from the Dec. 14-15 gathering of the Federal Open Market Committee, released astatine 2 p.m. ET, indicated that argumentation makers could tighten fiscal conditions sooner and faster than marketplace participants had anticipated. At the meeting, the Fed said that it could rise its benchmark involvement complaint 3 times this year, which the marketplace had already priced in. To hole for complaint hikes, the cardinal bankers enacted a revised program to taper plus purchases truthful they volition extremity wholly successful March alternatively of June. However, marketplace participants started to terms successful 4 complaint hikes successful 2022 and a simplification of the Fed's equilibrium sheet, which combined magnitude to tightening of what has been easy-money policies since the pandemic took clasp successful the U.S. successful March of 2020. The Dow Jones Industrial Average DJIA, -0.72% was trading 0.1% little astatine 36,748, the S&P 500 scale SPX, -1.52% was down 0.8% to commercialized astatine 4,755, portion the Nasdaq Composite Index COMP, -2.90% was trading 1.9% little astatine 15,325.

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