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S&P 500 Tumbles Most Since September on Prospect of Higher Rates
- Benchmark drops for fourth day after approaching record high
- Macy's and Kohl's slump while Norfolk Southern rallies
Should Investors Be Concerned Over a Strong U.S. Dollar?
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The Standard & Poor’s 500 Index tumbled the most in more than a month as the possibility that the Federal Reserve will raise interest rates as early as December weighed on equities.
Investors had shrugged off the threat of higher rates on Friday, focusing instead on a robust jobs report that signaled the U.S. economy may be ready to withstand tighter monetary policy. That sentiment reversed Monday in the absence of any additional data and after American equities ended last week near the highest level in three months.