- The Feds recent series of sharp rate hikes have also stoked fear of a recession.
- The Federal Reserve is set to make another rate hike at its policy meeting next month.
- The Dow Jones Industrial Average on Thursday dropped 252.4 points, or 0.76%, to 33,044; the S&P 500 lost 30.01 points, or 0.76%,; and the Nasdaq Composite dropped 104.74 points, or 0.96%.