Dow slides 300 points as investors brace for rate-hike decision from the Federal Reserve

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Federal Reserve Chairman Jerome Powell.Xinhua/Liu Jie via Getty Images

  • US stocks closed lower Tuesday with the Dow Jones Industrial Average shedding more than 300 points.

  • Investors remain fixated on the central bank ahead of the next rate hike announcement on Wednesday.

  • The 2-year Treasury yield surged as high as 3.983% intraday, the highest since 2007.

US stocks finished lower Tuesday as investors anxiously await interest rate guidance from the Federal Reserve’s policy meeting.

Stocks are under pressure from an anticipated 75-basis-point rate hike from the central bank, which will announce its policy decision Wednesday. The 2-year Treasury yield, which is sensitive to Fed moves, surged as high as 3.983% intraday to hit the highest rate since 2007. The 10-year yield climbed as high as to 3.593%, the highest since April 2011.

Investors were further unsettled by a potential escalation in Russia’s war on Ukraine that sent stocks in Moscow crashing.

Here’s where US indexes stood after the 4:30 p.m. closing bell on Tuesday: 

Here’s what else to know: 

In commodities, bonds and crypto:

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