Wall Street tumbles as investors see earlier rate hike

Fortune

(Reuters) – U.S. stocks dropped on Tuesday, giving the S&P 500 its biggest decline in two months, on strengthening views the Federal Reserve may raise rates as early as June.

The Dow Jones industrial average fell 332.78. points, or 1.85%, to 17,662.94, the S&P 500 lost 34.91 points, or 1.68%, to 2,044.52 and the Nasdaq Composite dropped 82.64 points, or 1.67%, to 4,859.80.

The S&P 500 and Dow turned negative for the year and the S&P 500 was off more than 3% from its March 2 record closing high. The Nasdaq has fallen more than 2% from its 15-year peak, also reached on March 2.

Concerns over Greece’s debt talks added to the day’s weakness, which took the S&P 500 below its 50-day moving average, a sign of weak near-term momentum.

The U.S. dollar index rose 0.98% and was on track for its fourth rise of the past five sessions…

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