U.S. stocks fall as markets ponder Fed’s next moves

Stocks fell on Wall Street as markets ponder the Federal Reserve’s next moves on fighting inflation. The drop comes a day after stocks pulled back as stronger-than-expected readings on the economy raised worries that the Fed has a ways to go in getting inflation under control. The Fed is doing that by intentionally slowing the economy with higher interest rates. The S&P 500 shed 1.5 percent Tuesday and the techheavy Nasdaq gave back 2 percent. The Dow Jones Industrial Average lost 1.2 percent. European markets were mostly lower and Asian markets closed mixed. Bond yields mostly fell.