Stocks were slightly lower in early trade, under pressure for a third straight session, as investors prepared for the Federal Reserve to aggressively raise interest rates and otherwise tighten monetary policy in its effort to get inflation under control. The Dow Jones Industrial Average DJIA, -0.59% fell 179 points, or 0.
5%, to 34,316, while the S&P 500 SPX, -0.08% shed 0.2% to 4,474. The Nasdaq Composite COMP, +0.05%, which has led declines the past two sessions, edged up 0.1% to 13,899. Minutes of the Federal Reserve's March meeting released Wednesday afternoon showed policy makers were prepared to implement a program that would eventually see the central bank roll $95 billion a month off its balance sheet.
Given that an interest rate hike has already been factored in, I suppose that means a 700 point jump up they actually announce the hike.
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