Stock Market Today: Fed Shows Its Teeth, Tech Shown the Door
The broader markets absorbed a gut punch Wednesday afternoon after the minutes of the most recent Federal Reserve meeting hinted that the central bank is ready to get more aggressive about tightening monetary policy.
Investors have already had weeks to digest both the Fed's quickened pace of tapering of asset purchases and expectations for multiple rate hikes in 2022, made explicit in the post-Federal Open Market Committee meeting statement in December. But today, the release of the meeting minutes showed Fed members were starting to reach for another tool in their tool belt.
