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Dow reverses course, closing 167 points lower


The Dow's early gains evaporated Wednesday afternoon, dropping from a session high of up 300 points to finish the day down 167. Stocks fell because the latest news from the Federal Reserve confirmed for investors that economic growth will lead to higher interest rates, per CNBC.

The Fed "made it clear that you're going to see more rate hikes ... The question for the market now is how many."
— market strategist Quincy Krosby to CNBC
Dave Lawler 1 hour ago
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What Trump and Putin did and didn't discuss

President Trump spoke with Vladimir Putin this afternoon, and congratulated him on winning re-election on Sunday. After the call, Press Secretary Sarah Sanders was asked whether Trump felt the election had been free and fair, and said it wasn’t up to the U.S. to “dictate" how Russia holds elections.

The bottom line: Trump is not alone in congratulating Putin — leaders in France, Germany and elsewhere have done so this week, as Barack Obama did in 2012. But past administrations certainly have seen it as America’s role to call balls and strikes when it comes to elections abroad, and weigh in when democratic institutions are being undermined. A departure from that approach would be welcomed not only by Putin, but other leaders of pseudo democracies around the world.

Ina Fried 10 mins ago
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Facebook plans a briefing for state AGs on Thursday

Facebook's Menlo Park HQ
Facebook's Menlo Park HQ. Photo: Facebook

Facebook is expected to meet with state Attorneys General from across the country on Thursday to address growing concerns over the Cambridge Analytica issue.

Why it matters: Two state AGs, New York's Eric Schneiderman and Massachusetts' Maura Healey, have said they are investigating Facebook's actions.