U.S., Canadian Markets plunge as worries grow over interest rates

In the United States, worries are growing that the higher interest rates the Federal Reserve is using to fight inflation will slow the economy. The S&P 500 pulled back 3.6%, marking its biggest loss in almost two years. The Dow tumbled more than 1.000 points, falling by 3.1%. Canada's main stock index closed down 2.3%, marking its biggest decline since the end of November last year.

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