US stocks fell for a third day as risks from rising interest rates to economic growth and earnings kept a grip on sentiment.
Still, bulls can take some solace in the selloff in equities showing signs of easing, with the S&P 500 ending down 0.8%, less than the 1.6% slide a day earlier. Despite some selling into the close, dip buyers emerged in some big tech names while traders digested the latest Fedspeak.
Federal Reserve Governor Lael Brainard, considered a dove, said Thursday rates will need to stay elevated for a period to further cool inflation. She didn’t state a preference for whether the Fed should downshift hikes at its next meeting or what peak rate she envisioned this year.
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