Stock market news live updates: Stocks slump after Powell warns of more tightening

U.S. stocks sank lower early Thursday as Wall Street reeled from assertions by Federal Reserve Chair Jerome Powell that hopes for a policy pivot were “premature” after the central bank delivered a fourth consecutive interest rate hike of 75 basis points. The S&P 500 (^GSPC) fell 1.2% at open after the index plunged 2.5% in…