On March 8, 2023, the Dow Jones Industrial Average closed Tuesday (March 7), plunging sharply 574 points after Federal Reserve Chairman Jerome Powell signaled a rate hike. Higher-than-expected interest to make inflation fall to the target set by the Fed
The Dow Jones Industrial Average dropped 574.98 points, or 1.72%, to close at 32,856.46, the S&P 500 dropped 62.05 points, or 1.53%, to close at 3,986.37, and the Nasdaq lost 145.40 points, or 1.25%, to close at 11,530.33.
