U.S. stocks descended Thursday morning as Wall Street reeled from another sizable rate hike by Federal Reserve officials and assessed similar moves by central bank officials across the Atlantic. A disappointing reading on consumer spending also weighed on sentiment.
The European Central Bank and the Bank of England followed the U.S. Fed in raising interest rates by 50 basis points Thursday morning. The BoE’s hike brought rates in the country to their highest since 2008.
The S&P 500 (^GSPC)…
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