On Tuesday, April 5, 2022, the US stock market finished the session lower due to fears of an aggressive Fed following hawkish comments from Federal Reserve officials. The officials pushed for a quick reduction in the central bank’s bloated balance sheet, with one of them expressing openness to hefty rate hikes of half a percentage point.
The Dow Jones Industrial Average index lost 280.70 points, or 0.8 percent, to 34,641.18 at trading. The Nasdaq Composite Index, heavily weighted in technology, fell 328.39 points, or 2.26 percent, to 14,204.17.
On the New York Stock Exchange, declining equities outpaced advancing ones by 648 to 2716, with 129 remaining unchanged. 1207 issues rose, 3552 dropped on the NASDAQ, and 267 remained unchanged.