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@PearlynCSY:
Nasdaq slides 2%, Dow falls more than 350 points in sharp reversal as rising rates weigh on stocks. Powell says taming inflation ‘absolutely essential,’ and a 50 basis point hike possible for May. Powell’s statements essentially meet market expectations that the Fed will depart from its usual 25 basis point hikes and move more quickly to tame inflation that is running at its fastest pace in more than 40 years.
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