Market Snapshot: S&P 500, Nasdaq sink to lowest close since June as investors brace for higher rates for longer

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U.S. stocks finished sharply lower Thursday, with the S&P 500 and Nasdaq posting their lowest closes since June, as Treasury yields surged in the wake of the Federal Reserve’s meeting on Wednesday.

How stocks traded

On Wednesday, the Dow Jones Industrial Average DJIA fell 0.2%, while the S&P 500 and Nasdaq Composite logged their lowest closing levels of September.

What drove markets

Stocks…