Stocks fell sharply on Thursday, erasing the gains seen in the previous session after the Federal Reserve raised rates by half a point in the biggest drawdown for Wall Street this year.
The moves come after a major rally for stocks on Wednesday. The Dow surged 932 points, or 2.81%, and the S&P 500 gained 2.99% for their biggest gains since 2020. The Nasdaq Composite jumped 3.19%.
Those gains had all been erased before noon in New York on Thursday.
» Subscribe to CNBC TV:
» Subscribe to CNBC:
» Subscribe to CNBC Classic:
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news:
Follow CNBC on LinkedIn:
Follow CNBC News on Facebook:
Follow CNBC News on Twitter:
Follow CNBC News on Instagram:
#CNBC
#CNBCTV
LIVE: Watch stocks trade in real time as Dow tumbles— 5/5/2022
