Wall Street slips heading into Fed’s big rate decision

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By Anisha Sircar and Devik Jain (Reuters) -U.S. stocks on Tuesday extended losses from a bruising previous session in which the S&P 500 confirmed a bear market as investors braced for an aggressive interest rate hike by the Federal Reserve this week. The U.S. central bank is expected to raise rates by 75 basis points on Wednesday after a hotter-than-anticipated rise in consumer prices in May. Shares on Wall Street’s main indexes have lost between 16% and 30% of their value this year amid economic uncertainty stoked by supply chain and labor shortages, soaring inflation, the fallout of Ukraine …

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