Investors are withdrawing from US stock markets

new York Investors are withdrawing from the US stock exchanges for fear of more drastic interest rate hikes by the Fed and the consequences for the economy. The Dow Jones standard value index fell 3.3 percent on Wednesday to 31,569 points, falling by more than 800 points for the fifth time this year. The broad S&P 500 lost nearly four percent and the tech-heavy Nasdaq almost five percent.

“Markets don’t like uncertainty,” said Brooke May, partner at wealth management firm Evans May. “It’s unclear how far the Fed will have to go to get inflation under control. Higher interest rates hurt consumer spending and also corporate profits.”