US Stock Market Today: Dow Jones, Nasdaq, S&P 500 finish choppy session weaker amid rate hike fears
Traders have started to price in the chances of a bigger 50 basis-point rate hike in March, although the odds remain low at about 23%, according to Fed fund futures.
Federal Reserve officials prompted market participants to reconsider the odds the central bank would hike rates to a higher level than market forecasts and keep them elevated for longer than was initially expected. (Representative image from Reuters)