(New York, NY) — Rising Federal Reserve interest rates are hitting the stock market hard. The Fed announced that it was raising rates for the fourth time this year. The Dow Jones Industrial Average made a 700 swing into negative territory, ending the day with a 352 point loss. The Nasdaq fell 147 points to 66-37. The S&P 500 lost 39 points to 25-07. The Dow and S&P 500 are both on track for their worst December since the Great Depression in 1931, falling more than eight and nine percent respectively for the month.
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