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Stocks Churn With Wall Street on Hold Before Fed: Markets Wrap

To Sam Stovall, chief investment strategist at CFRA Research, a 100-basis-point hike would “unnerve Wall Street as it would imply that the FOMC is overreacting to the data rather than sticking to its game plan.” Following the previous seven rate increases of that magnitude, the US equity benchmark fell four times each over one-, three-, and six-month periods, he added.

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