U.S. stocks tank as Fed signals slower pace of rate cuts

NEW YORK, Dec. 18 (Xinhua) -- U.S. stocks tumbled on Wednesday, following the Federal Reserve's indication that it may reduce interest rates at a slower pace in 2025 than previously anticipated.

The Dow Jones Industrial Average fell 1,123.03 points, or 2.58 percent, to 42,326.87, its biggest loss since August and the worst losing streak since an 11-day slide in 1974. The S&P 500 sank 178.45 points, or 2.95 perce