Stocks extend slide as Wall Street braces for 'higher for longer' interest rates: Stock market news today

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US stocks were poised to continue their retreat on Thursday as investors worried over the Fed's hawkish stance.

"This kind of win is extremely rare," says Alex Sasso, chief executive officer and small-cap portfolio manager at NCM Investments.Stock market today: Stocks slump worldwide as allure grows to buy a Treasury bill and chill

NEW YORK — Wall Street is slumping again Thursday as stock prices drop worldwide on expectations that U.S. interest rates will stay high well into next year. The S&P 500 was 1.1% lower in midday trading. That follows a similar drop from Wednesday after the Federal Reserve indicated it may cut interest rates next year by just half what it earlier predicted.

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