Dow loses 200 points, Nasdaq drops 2% as investors fear Fed rate hikes will slow the economy; European stocks close mixed, tracking global caution 
Stocks fell on Tuesday as Federal Reserve Governor Lael Brainard indicated the central bank could take a more aggressive approach to its tightening policy. 
The Nasdaq Composite led Tuesday’s declines, shedding 2.26% to 14,204.17 and giving up its 1.9% pop in the prior session. The Dow Jones Industrial Average lost 280.7 points, or 0.8%, closing at 34,641.18. The S&P 500 fell 1.26% to 4,525.12 after posting two straight days of gains. 
Tech stocks were among the biggest losers of the day. Chip stocks contributed to the decline, as Nvidia dropped 5.2% and AMD lost more than 3%. Some believe tech companies could be hurt the most by the Fed’s hiking campaign as investors take less risk and buy stocks with steady profits, rather than growth shares promising big earnings down the road. 
Meanwhile, sectors like utilities and health care moved higher on Tuesday, with drugmakers Johnson & Johnson and Pfizer rising slightly along with staples like Procter & Gamble and Walmart. Cruise stocks Carnival and Norwegian Cruise Line added more than 2% and 1%, respectively. 
Recessionary fears continued to spook investors on Tuesday and Deutsche Bank became the first major Wall Street bank to forecast a U.S. recession is ahead, citing the Fed getting more aggressive to fight inflation. 

The pan-European Stoxx 600 finished flat, while utilities added 2% and construction and material stocks dropped 1.8%. 
In terms of individual share price movement, Vestas Wind Systems jumped 8.6% after Credit Suisse double upgraded the stock to “outperform” from “underperform” on the back of its shift away from fossil fuels. 
At the bottom of the European blue chip index, electronics company ams Osram fell 8.4% after outlining its new strategy at its capital markets day. 
Source: CNBC, Investing.com