Stock market today: Dow drops 570 points to end worst month of 2024 as traders brace for Fed decision
US Federal Reserve Board Chairman Jerome Powell.
Anna Moneymaker/Getty Images
- Stocks dropped sharply as investors readjusted rate cut expectations ahead of the latest FOMC meeting.
- The latest labor cost data added to fears of a hot economy and sticky inflation.
- The stock decline only deepens April's losses, snapping a five-month streak of gains.
US stocks plunged on Tuesday as investors got another dose of inflationary data ahead of the Federal Reserve's next policy decision.
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