Market volatility is back as stocks slide on Fed rate hike fears
CNN
Are the Wild West days of intense market volatility back on Wall Street? Stocks were sliding Friday morning after St. Louis Federal Reserve President James Bullard told CNBC he thinks the Fed should raise interest rates as soon as the end of next year.
The Dow fell 400 points shortly after the opening bell Friday, a drop of around 1.2%, before recovering a bit. The S&P 500 and Nasdaq were notably lower as well. Bullard, who does not have a say on the Fed's policy committee this year but will have a vote in 2022, also said in the interview that the Fed is also starting to discuss the idea of tapering, or cutting back, its bond purchases.
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