The U.S. Federal Reserve may hike interest rates to nearly 6%, according to BofA Global Research , as strong U.S. consumer demand and a tight labor market are pushing up inflation levels. BofA analysts noted that the inflation rate could reach 5% by the end of 2023, which could lead the Fed to hike policy rates in order to contain the surge in prices . This could lead to higher borrowing costs for consumers, as well as higher yields for Treasury securities .
References: Fed might raise policy rates to 6% – BofA – Yahoo Finance  Fed Might Raise Policy Rates to 6% – BofA – US News Money  Fed might raise policy rates to 6% – BofA – Nasdaq
Dow closes more than 200 points lower Tuesday
The stock market suffered a rough day, with the Dow Jones Industrial Average falling more than 200 points on Tuesday . The Dow Jones Industrial Average lost 234.11 points, or 0.7%, to 32,654.98. The S&P 500 shed 0.3% to end the day at 3,969.69, and the Nasdaq Composite closed 0.1% lower at 11,455.54 . Analysts attributed the losses to profit-taking after the index’s rally in the previous week .
The major averages had a mixed month of February, with the Dow and S&P 500 index ending with losses, while the Nasdaq Composite rose 0.4% for the month [4
References: Stock market today: Live updates – CNBC  Dow Jones Drops 200 Points After Stock Market Plunge  The Dow Dropped 200 Points Tuesday. Don’t Blame Didi and …
The S&P 500 shed 0.3% to end the day at 3,970.15
On Tuesday, the S&P 500 shed 0.3% and closed at 3,970.15 . This was a choppy day for stocks, with the S&P 500 up 0.5% near 4,013 in recent trade, while the Dow Jones Industrial Average pushed up 88 points, or 0.3%, to 32,914 . The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities . As of March 1, the S&P 500® is down -4.00 (-0.10%) compared to the previous closing price [4
References: S&P 500 holds important chart support near 3,970  S&P 500 (^GSPC) Charts, Data & News – Yahoo Finance  S&P 500® | S&P Dow Jones Indices – S&P Global
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