Geopolitical concerns have added to recent worries about the possible path of the Federal Reserve's interest rate hikes.
A trader looks at a screen that charts the S&P 500 on the floor of the New York Stock Exchange in New York, U.S., April 27, 2017. REUTERS/Brendan McDermid1% slump on Tuesday confirmed that the world's most watched stock index was in a correction for the first time since the 2020 Wall Street plunge brought on by the COVID-19 pandemic.
U.S. investors sold stocks amid growing fears of war between Russia and Ukraine, paring some losses after U.S. President Joe Biden announced a wave of sanctions against Russia. Those geopolitical concerns have added to recent worries about the possible path of the U.S. Federal Reserve's interest rate hikes as the central bank attempts to rein in inflation at 40-year highs.Earlier, NATO Secretary-General Jens Stoltenberg said that the alliance believed Russia was still planning a big assault on Ukraine following Moscow's recognition of two separatist regions in the former Soviet republic's east.The S&P 500 is now down 10.
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