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(CNBC) -- Stocks slid Wednesday as investors absorbed the Federal Reserve’s latest interest rate hike decision in its efforts to crush inflation.
The Dow Jones Industrial Average fell 142.29 points, or 0.42%, to 33,966.35. The S&P 500 declined 0.61% to 3,995.32. The Nasdaq Composite dropped 0.76% to 11,170.89.
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Major averages hit their lows of the session after Federal Reserve Chairman Jerome Powell signaled more data was needed before the central bank would meaningfully change its view of inflation. The Dow fell as much as 404.47 points, after climbing 287.01 points earlier in the day.
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