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From Big Tech to Bank Stocks, Traders Brace for Fed Rate Hike

  • Technology and homebuilders in focus as higher rates take toll
  • Gold mining stocks are losing appeal as an inflation hedge
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Door Is Open to Two 75 Bps Fed Hikes: JPMorgan's Michele

The US stock market remains on edge ahead of Wednesday’s Federal Reserve announcement, with investors expecting a 75 basis-point increase in rates, which in turn will add more pressure on growth stocks and corporate profit margins.

Stocks have tumbled since Friday in anticipation of an aggressive move by the Fed in its fight against inflation, with the S&P 500 Index entering bear market territory.