US stocks fall broadly as worries linger on interest rates

Stocks fell broadly on Wall Street and added to the week's losses as markets remain anxious about the prospect of more aggressive action by the Federal Reserve to fight inflation. The wobbly trading came after two days of testimony before Congress by Federal Reserve Chair Jerome Powell, who said the central bank was prepared to continue making big interest rate increases if necessary. Investors fear the inflation-fighting policies may tip the economy into a recession and put many people out of work. The S&P 500 was down 1.7% Thursday afternoon. The Dow and the Nasdaq also fell.