US stocks fell the most in three months on Wednesday morning, tumbling as much as 2 percent on talk that the market had been overbought as the Federal Reserve prepared to announce its monthly decision on interest rates
NEW YORK (Pakistan Point News / Sputnik - 27th January, 2021) US stocks fell the most in three months on Wednesday morning, tumbling as much as 2 percent on talk that the market had been overbought as the Federal Reserve prepared to announce its monthly decision on interest rates.
The S&P 500, a barometer for the top 500 US stocks on the New York Stock Exchange, was down 1.8 percent by 10:03 AM (15:03 GMT), its sharpest slump since a 3.5 percent drop on October 28.
The Dow Jones Industrial Average, Wall Street's broadest stocks gauge, fell 1.7 percent. The technology-laden Nasdaq index, which counts on the performance of industry giants such as Facebook, Apple, Amazon, Netflix and Google, tumbled 2 percent.
