Ticker- Wall Street Tues
Wall Street tumbles, Dow loses 697 on fears about high rates
By STAN CHOE
AP Business Writer
NEW YORK (AP) – Stocks tumbled to their worst day in two months, buckling under worries about higher interest rates and their tightening squeeze on Wall Street and the economy. The S&P 500 fell 2% Tuesday for its sharpest drop since the market was selling off in December. The Dow lost 697 points. Home Depot fell to one of the market’s sharper losses after it gave a financial forecast that fell short of expectations. Treasury yields kept climbing on worries that the Federal Reserve will need to stay aggressive on keeping rates high to fight inflation. Higher rates hurt investment prices and raise the risk of a recession.
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