Economics
U.S. Stocks Tumble as Fed Decision Spurs Global Economy Concerns
- S&P 500 erases weekly gain as energy, financial shares slump
- Stocks face return of volatility amid quadruple witching
Fed Wants Inflation, but Can’t See Any Coming Soon
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U.S. stocks tumbled, erasing the week’s gain in the Standard & Poor’s 500 Index, as the Federal Reserve’s warnings over the global economic outlook rippled across financial markets.
The S&P 500 lost 1.6 percent to 1,958.03 at 4 p.m. in New York. Financial companies took a hit for a second day after the central bank decided to delay raising interest rates. Energy shares plunged with the price of oil. The VIX, a measure of market volatility, climbed for the first time in four days.