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- GameStop jumps after chairman picks up more shares
- Adobe falls on lackluster current-quarter forecast
- Futures off: Dow 0.35%, S&P 0.43%, Nasdaq 0.72%
March 23 (Reuters) – U.S. stock indexes were set to fall on Wednesday after megacap shares fueled a strong rally on Wall Street a day earlier, as investors assessed the outlook for U.S. interest rates following calls from Federal Reserve policymakers for bigger increases.
The hawkish pivot was in line with Chair Jerome Powell’s comments on Monday and came just a week after the U.S. central bank raised interest rates for the first time since 2018. read more
Traders now see the federal funds rate rising to the 2.25%-2.5% range by year-end, higher than the 1.9% suggested by Fed forecasts last week, raising…