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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

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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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