Stocks tank after Fed hikes by 0.75%, Powell pushes back against pivot

U.S. stocks slid in volatile trading Wednesday afternoon following a move by the Federal Reserve to raise its benchmark policy rate by 75 basis points for a fourth straight time — on par with market expectations — and remarks by Chair Jerome Powell indicating the U.S. central bank was unlikely to shift on policy anytime soon.<p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>