How major US stock indexes fared Tuesday

The Associated Press

Wall Street’s losses deepened on Tuesday after the head of the Federal Reserve said it will consider shutting off its support for financial markets sooner than expected. Major indexes started the day lower amid amid worries that the omicron variant would hit the global economy. Losses accelerated after Fed Chair Jerome Powell told Congress the central bank will consider halting its bond purchases meant to lower long-term rates sooner than expected. Short-term Treasury yields rose as investors moved up expectations for a Fed rate hike.