1/25, 3:57 PM (Source: TeleTrader)
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Dow plunges 700 pts on Fed fears, US-Russia spat

Similar to the day prior, major the United States stock market indexes extended the drop soon after the session's open on Tuesday, with the Dow Jones Industrial Average plunging over 700 points.

While Federal Reserve's monetary policy meeting, scheduled for Wednesday, remained in the center of investors' attention, as well as the ongoing row between Washington and Moscow, the traders also monitored the latest batch of corporate earnings. Additionally weighing on the sentiment was the International Monetary Fund's estimate that the global economic growth in 2022 will amount to 4.4%, and not to 4.9% as was previously forecasted.

The Dow Jones crashed 702 points, or 2.04%, at 10:01 am ET, while the Nasdaq 100 lost 2.86% at the same time. A minute later, the S&P 500 dived 2.53%. The euro tumbled 0.43% compared to the dollar at 10:03 am ET, selling for 1.12717.

Baha Breaking News (BBN) / BU