Stock Market Today: Stocks Slide With Fed on Deck

Selling ramped up in the bond market too, which sent the yield on the 10-year note to its highest level in years.

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(Image credit: Getty Images)

Anxiety got the better of Wall Street on Tuesday, with the stock market tumbling ahead of tomorrow's policy announcement from the Federal Reserve.

Many of Wall Street's top minds are weighing in on how big the Fed rate hike will be. Among them is Brad McMillan, chief investment officer for Commonwealth Financial Network, who, like almost everyone, believes the central bank will hike rates by 75 basis points. A basis point is one-one hundredth of a percentage point.

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Karee Venema was long F as of this writing.

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.