Dow Jones dives 530 points as Fed cautions on interest rates

NEW YORK, New York - U.S. stocks reeled on Thursday as Federal Reserve members in different states poured cold water on rate cut expectations.

"Investors right now are sort of taking a wait and see attitude," Sam Stovall, CFRA Research chief investment strategist told CNBC Thursday. "The 10-year yield is the key driving force because of the concern of the Fed implying that they're in no hurry to cut rates, and th