Investors concerned about slowing economic growth sent stocks sharply lower Tuesday after the Federal Reserve said it would continue raising interest rates despite Wall Street’s worries about the economic impact of Hurricane Katrina.
The Dow Jones Industrial Average fell 76.11, or 0.7 percent, to 10,481.52. The Standard & Poor’s 500 Index lost 9.68, or 0.8 percent, to 1,221.34. The Nasdaq Composite Index dropped 13.93, or 0.7 percent, to 2,131.33.