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Markets

Wall Street tumbles as investors fret on rate hikes and recession

The Dow closes at 2022 low but avoids bear territory

Investor concerns over the Fed's hawkish rate policy sent U.S. stocks tumbling on Sept 23.   © Reuters

NEW YORK (Reuters) -- Wall Street's main indexes all tumbled to close well down on Friday as rattled investors continued to reposition themselves amid fears the U.S. Federal Reserve's hawkish rate policy will help tip the American economy into recession.

The Dow narrowly avoided ending more than 20% lower than its Jan. 4 record all-time closing peak of 36,799.64 points, meaning the blue-chip index did not attain a bear market label, according to a widely used definition.

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