Fed hawks shake stock markets on interest rates

On Thursday, the Dow Jones Industrial Average suffered its most dramatic decline since early February and the emerging market scare that rattled stocks at the start of the year. The Dow plunged below its lower Bollinger Band and its 50-day moving average, both of which are significant technical support levels. In fact, measured market volatility had dropped to the bottom 1 percent of all readings since 1928.

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