Stocks finished broadly lower Tuesday as Wall Street, increasingly anxious about the slowing economy, looks ahead to a widely expected interest rate hike by the Federal Reserve in its bid to squash the highest inflation in decades.
The S&P 500 index fell 1.1 percent, as more than 90 percent of stocks and every sector in the benchmark index lost ground. The Dow Jones Industrial Average and Nasdaq composite also fell 1 percent.
