Stocks fell on Wall Street as worries grow that the Federal Reserve and other central banks are willing to bring on a recession if that’s what it takes to get inflation under control. The S&P 500 fell 1.6% on Friday and is headed for its second straight weekly loss. The Dow and the Nasdaq also fell. The Fed this week raised its forecast for how high it will ultimately take interest rates and tried to dash some investors’ hopes that rate cuts may happen next year. In Europe, the central bank came off as even more aggressive in many investors’ eyes.
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