US stocks end with steep declines

Wall Street equities ended with solid losses Tuesday as US central bankers opened their two-day policy meeting which is widely expected to end with a three-quarter-point interest rate hike.

Fed officials have vowed to raise rates to bring down soaring inflation, with some observers speculating about a possible one-percentage-point move.

Markets have been roiled in recent days by the central bankers’ decidedly hawkish statements, despite a brief bounce Monday.

However, analysts have already begun setting their sights on the prospect of future increases, awaiting information on what the Fed’s next steps will be and how high rates could go.