All but three American stocks valued at over $200 billion slid Thursday.
Major stock indexes posted one of their worst days in months as investors once again sell off in anticipation of further restrictive policy from the Federal Reserve as the central bank's effort to cool the U.S. economy hits further road bumps.The Dow Jones industrial average tanked as much as 520 points, or 1.5%, by midday, while the S&P 500 and tech-heavy Nasdaq slid as much as 1.3% and 1.5%, respectively.
The downswing came as investors digested several reports indicating there was stronger labor market growth than expected—prompting Dallas Fed president Lorie Logan to suggest that two increases to the federal funds rate may be on the way.
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