US stocks dive

Wall Street slumped today as investors looked past another round of acquisitions and grew increasingly anxious about the Federal Reserve’s upcoming decision on interest rates. The Dow Jones industrials tumbled more than 120 points.

With the Fed meeting on Wednesday and Thursday to discuss its rate policy, Tuesday’s stronger-than-expected economic data raised fears that the central bank would signal that more hikes are coming. It’s nearly a foregone conclusion that the Fed will nudge rates a quarter percentage point higher; investors are worried about rate hikes in August and beyond.