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November 18, 2022

Stocks fall as Fed signals rates need to go still higher

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks closed lower on Wall Street and Treasury yields rose Thursday afternoon after more indications from the Federal Reserve that it may need to raise interest rates much higher than many people expect to get inflation under control.

The S&P 500 fell 0.3%, with retailers and banks among the biggest weights on the benchmark index. The Dow Jones Industrial Average slipped less than 0.1%, while the Nasdaq composite closed 0.3% lower.


 
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