Dow falls about 200 points, reversing gain after Fed signals rate hikes are ahead to fight inflation; European markets close higher as investors brace for latest Fed decision; Stoxx 600 up 1.7% 
The Dow Jones Industrial Average fell 320 points, or 0.9%. The blue-chip average was up more than 500 points earlier in the session. The S&P 500 fell 0.8%. The Nasdaq Composite ticked down 0.6%. 
Stocks came off their highs and Treasury yields jumped to their highs after Powell said at a press conference there was “quite a bit of room” to raise rates before it would hurt the labor market. Powell also said prices could continue to run higher as “inflation risks are still to the upside.” 
Technology shares gained following Microsoft’s earnings report. Apple, Amazon, Netflix and Nvidia all traded higher. Tesla shares added 4.4%, with the electric vehicle marker slated to report earnings after the bell. 
On the downside, Boeing fell 2.9% after the aircraft maker reported positive cash flow for the first time since 2019, but it took a $3.5 billion pre-tax charge on its 787 Dreamliner program. 

The pan-European Stoxx 600 provisionally ended up 1.7%, with oil and gas stocks jumping over 4% to lead gains as all sectors and major bourses entered positive territory. 
In terms of individual share price movement, Swiss computer software manufacturer Logitech as among the top performers, up 6% after receiving a series of buy and outperform ratings from analysts. 
At the bottom of the European blue chip index, French care home operator Orpea fell 19% as the stock continues to be hammered by allegations of mistreatment of residents, which the company denies. 
Source: CNBC, Investing.com