HONG KONG, March 2 — Stocks were mixed Thursday but trading was subdued as Federal Reserve interest rate hike worries returned to the agenda with two top officials warning more tightening will be needed to slay inflation.
The S&P 500 and Nasdaq closed in the red after the comments from Fed policymakers Raphael Bostic and Neel Kashkari, which pointed to rates going higher than feared and for an extended period. And Minneapolis boss Kashkari said he was still “open-minded” about backing a 50-basis-point hike at the next policy meeting, double the most recent increase.
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