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Market Pulse: Dow tumbles over 300 points to kick off Tuesday trade as market turbulence continues, as Fed meeting gets under way


U.S. stocks were heading lower to start Tuesday trade ahead of the start of a gathering of the U.S. central bank, which could prove important to the complexion of a market that has turned decidedly more turbulent in recent weeks.

On Monday, investors endured a sharp selloff and surprise rally, amid market uncertainty stoked by rising inflation, disappointing corporate earnings, anxiety about the Federal Reserve’s expected policy changes, fears of a Russian invasion of Ukraine and the continuing COVID-19 pandemic.

Read more: The S&P 500, Nasdaq just staged a turnaround for the ages, marking their largest comebacks since the 2008 financial crisis

The Dow Jones Industrial Average DJIA, -1.67% was trading 353 points, or 1.4%, to reach 34,0003.
The S&P 500 index SPX, -2.11% was trading off 1.3% at about 4,352.
The Nasdaq Composite Index COMP, -2.42% declined 1.5% to reach around 13,644.

In corporate news, shares of 3M Co. MMM rose after delivering stronger-than-expected earnings, while Johnson & Johnson JNJ shares were down 1.3%, after the consumer goods, pharmaceutical and medical device maker posted weaker-than-expected revenue for the fourth quarter.

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