Dow falls 505 point after Fed delivers another big rate hike and Powell signals commitment to inflation fight

Stocks dropped on Wednesday after the Federal Reserve delivered another 75 basis point rate hike. It’s the fourth hike of that size this year as the central bank scrambles to tame inflation. Fed comments hinted at softer rate hikes, but Powell reiterated the central bank’s committement to taming inflation. Something is loading. Thanks for signing…