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Money & Markets

Stocks slump 3% as worries grow over higher interest rates

NEW YORK — A sharp sell-off left the Dow Jones Industrial Average more than 1,000 points lower Thursday, wiping out the gains from Wall Street’s biggest rally in two years, as worries grow that the higher interest rates the Federal Reserve is using in its fight against inflation will ...

Fed raises key rate by a half-point in bid to tame inflation

WASHINGTON — The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come. The increase in the Fed’s ...

US to hold back Lake Powell water to protect hydropower

SALT LAKE CITY — U.S. officials announced what they called extraordinary steps on Tuesday to keep hundreds of billions of gallons of water stored in a reservoir on the Utah-Arizona line to prevent it from shrinking more amid prolonged drought and climate change. The U.S. Bureau of ...

Fed to fight inflation with fastest rate hikes in decades

WASHINGTON — The Federal Reserve is poised this week to accelerate its most drastic steps in three decades to attack inflation by making it costlier to borrow — for a car, a home, a business deal, a credit card purchase — all of which will compound Americans’ financial strains and ...

Thousands likely at Buffett’s meeting but not all are happy

OMAHA, Neb. — Tens of thousands of people are expected to pack an Omaha arena Saturday for Warren Buffett’s Berkshire Hathaway’s annual meeting. Most attending the company’s first in-person meeting since the pandemic want to be there just for the chance to hear from the 91-year-old ...

Big US energy transmission projects inch closer to approval

ALBUQUERQUE, N.M. — The federal government has finished another environmental review of a proposed transmission line that will carry wind-generated electricity from rural New Mexico to big cities in the West and similar reviews are planned for two more projects that would span parts of Utah ...