Now, Fed officials anticipate two cuts in 2025 instead of the four that were expected in September.
Rates rose dramatically over two years to tamp down rampant inflation.
The S&P 500 lost about 3% and the Nasdaq plunged 3.56%.
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Roku fell 5.8%;Netflixwas down by 3.2%; Comcast by 2.24% andDisneyby 1.4%.
The dollar hit its highest point in two years against a basket of currencies.
High rates arent great for companies with already high high debt, and crimps borrowing by companies and consumers.
