Stock Market Today: Dow Drops 613 Points After Hawkish Fed Talk

Stocks initially opened higher, but swung into negative territory around lunchtime.

person looking at gray arrow going up, then down
(Image credit: Getty Images)

Stocks started Wednesday trading higher thanks to another encouraging reading on inflation. 

However, the major benchmarks couldn't sustain this early lead as dismal retail sales data stoked recession concerns and a Federal Reserve official threw support behind more interest-rate hikes. 

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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.