• Dow tanks 392 points as Fed spooks markets

  All three of the major U.S. stock averages fell sharply on Wednesday as selling accelerated following the 2pm release of the minutes from the Federal Reserve's December meeting which signaled hot inflation may speed up the timing of planned rate hikes this year. Tech and consumer discretionary names led the selling among the S&P's largest groups, while defensive utility and consumer staple stocks fell the least. In commodities, oil closed at $77.85 per barrel.

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