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In a stunning turn of events, the stock market plummeted today, erasing most of its weekly gains. The S&P 500 saw a sharp decline of 1.2%, while the Dow Jones Industrial Average tumbled 0.8%, and the tech-laden Nasdaq Composite took the hardest hit, losing a staggering 1.6%.
The Nasdaq's dismal performance has sent shockwaves through the financial world, leaving investors on edge. The primary cause of this market turmoil? A looming sense of uncertainty surrounding the Federal Reserve's highly anticipated policy meeting next week.
Investors, fearing the potential repercussions of the Fed's decisions, are bracing themselves for what might come next. All eyes are glued to the meeting as they seek vital clues about the central bank's strategy for addressing the menacing specter of inflation.
The real fear lurking beneath the surface is the prospect of a more aggressive interest rate hike by the Fed. Such a move could cast a dark shadow over the stock market in the coming months, leaving investors anxiously awaiting the outcome of next week's meeting.