9/27, 6:31 PM (Source: TeleTrader)
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Wall Street erases gains, Dow slips over 200 pts

Major Wall Street equities erased gains recorded at the opening bell on Tuesday, as economic uncertainties seemingly drove the indexes to drop below the flatline. The Dow Jones Industrial Average and the S&P 500 sank by 19.92% and 23.66% year-to-date respectively, with the latter nearing fresh lows for 2022.

Earlier today, the Federal Reserve stated that the main United States interest rate is estimated to peak at around 4.5%, warning that the country's economy could be pushed into recession.

The Dow Jones Industrial Average slipped over 200 points or 0.71% at 12:23 pm ET, while the Nasdaq 100 fell by 0.54% at the same time. The S&P 500 plummeted by 0.68% a minute later. The euro lost 0.21% against the greenback, to change hands to $0.95890 at 12:30 pm ET.

Baha Breaking News (BBN) / AB