Wall Street closes lower as the Fed pounds rate hike drum

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Reuters

By Herbert Lash (Reuters) -Wall Street’s major indexes closed lower on Thursday as concerns mounted ahead of closely watched monthly nonfarm payrolls numbers due on Friday that the Federal Reserve’s aggressive interest rate stance will lead to a recession. Markets briefly took comfort from data that showed weekly jobless claims rose by the most in four months last week, raising a glimmer of hope the Fed could ease the implementation since March of the fastest and highest jump in rates in decades. The equity market has been slow to acknowledge a consistent message from Fed officials that rates …

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