Stocks sink as investors wait for the Fed’s rate hike

New York
CNN Business

So much for Wall Street sitting back and taking it easy while awaiting the Federal Reserve’s latest interest rate decision on Wednesday. Stocks slid Tuesday as investors grew anxious about the impact of another big rate hike.

The Dow fell more than 313 points, or 1%. The S&P 500 ended the day down 1.1% while the tech-heavy Nasdaq finished with about a 1% loss.

There were no earnings reports of note on Tuesday…although a warning from Ford

about inflation and supply chain woes added to investor worries.

There was also not much economic data for investors to focus on other than a new housing report, which was mixed. Housing starts for August rose more than 12% from July, but building permits were down 10%.

The housing numbers are unlikely to change the minds of Fed policy makers, who will announce

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