Stock Market Today: Stocks Slide Ahead of Fed Announcement

The major indexes tumbled Tuesday as anxiety ramped up ahead of tomorrow's policy announcement from the Federal Reserve.

blue stock chart with pink, yellow and white moving averages going lower
(Image credit: Getty Images)

On Monday, stocks took in stride news of the latest bank failure thanks to a quick takeover of First Republic Bank by JPMorgan Chase (JPM, -1.6%). But today, with the Fed on the cusp of another interest rate hike, investors fretted that more chaos could be in store for the beaten-down banking industry, which sent markets into a tailspin.  

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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.