The Dow had its biggest drop in 18 months amid fears of an interest rate hike
The Dow Jones industrial average slumped 2.8% after briefly skidding more than 1,000 points. The S&P 500 had its biggest one-day loss in almost seven weeks.
NEW YORK â Stocks tumbled on Wall Street Friday, leaving the S&P 500 with its biggest one-day loss in almost seven weeks, as worries deepen about a surge in interest rates and the U.S. central bank's efforts to fight inflation.
Several disappointing profit reports from companies also shook what's been the market's main pillar of support.
The S&P 500 sank 2.8% and marked its third losing week in a row. The Dow Jones Industrial
