NEW YORK, June 15 — Wall Street stocks opened higher today following a report showing disappointing US retail sales as markets await the Federal Reserve’s latest response to inflation.
The report comes ahead of the US central bank’s policy announcement later Wednesday that many investors think will result in a 75-basis-point hike after weeks of the Fed telegraphing a smaller increase.
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Stocks dip deeper into bear market ahead of big Fed newsNEW YORK: Most stocks on Wall Street dipped Tuesday in their first trading after tumbling into a bear market on worries that high inflation will push central banks to clamp the brakes too hard on the economy.
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