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Call it a delayed reaction, but the Federal Reserve’s signal that its main policy rate will likely peak above 5% and stay there for a while was getting the blame for Thursday’s painful stock-market rout.
The S&P 500 index SPX was off 2.5%, heading for its worst daily drop in three months, with losses in its rate-sensitive communication services and information technology sectors leading the way lower. Those sectors were down 4.1% and 3.6%, respectively, at last check, according to FactSet.
Technology…
