//@PearlynCSY:Dow falls 142 points as Wall Street weighs more aggressive Fed, disappointing bank earnings.Stocks slipped Thursday as big bank earnings kicked off with disappointing results and traders assessed the possibility of even tighter U.S. monetary policy from the Federal Reserve as recessionary fears lingered. Stocks closed in negative territory but well off their lows. At one point, the Dow plummeted as much as 628 points while the Nasdaq and S&P 500 fell more than 2% each. Equities were on track to close out the week in negative territory. “If the banks are a barometer of the whole economy as well as what we’re likely to get from other earnings reports going forward, it’s going to be an ugly quarter,” said Sam Stovall, chief investment strategist at CFRA. Declines from JPMorgan, Goldman Sachs and American Express led the Dow’s losses on Thursday. Thursday’s market moves come after the consumer price index for June came in hot at 9.1% and opened the door for a big Federal Reserve rate increase later this month, spurring speculation of a Fed rate hike of as much as 100 basis points. Comments from Federal Reserve Governor Christopher Waller on Thursday alleviated some of those fears as he said he’s prepared to consider a bigger hike, but the market “is kind of getting ahead of itself.”“The takeaway for investors is that Fed policy remains data-dependent and the central bank will continue on an aggressive tightening path until inflationary pressures peak decisively,” strategists at BCA Research wrote in a note.