S&P 500 falls for a fifth day, slips deeper into bear market territory ahead of Fed decision; European stocks close lower as investors assess recession risk 
Stocks fell on Tuesday as the S&P 500 dipped further into bear market territory and rates surged as investors braced for further rate hikes from the Federal Reserve. 
The S&P 500 tumbled 0.38% to close at 3,735.48. The Dow Jones Industrial Average dropped 151.91 points, or 0.5%, to settle at 30,364.83. It was the fifth day of declines for the broad-market index and the 30-stock Dow. The Nasdaq Composite rose 0.18% to finish at 10,828.35. 
Shares of Oracle jumped more than 10% after the software company reported an earnings beat boosted by a “major increase in demand” in its infrastructure cloud business. FedEx’s stock saw its best day since 1986 after soaring 14% on news that the company would raise its quarterly dividend by more than 50% and add three new directors to its board. 
Procter & Gamble, Coca-Cola and UnitedHealth slipped 3.1%, 2.7% and about 1.7%, respectively, dragging down the Dow. 

The pan-European Stoxx 600 dropped 1.2% by the close, having initially climbed 1% at the start of the session. Retail stocks fell 2% to lead losses while banks added 1.3%. 
Finnish utility Fortum climbed 6.5% to lead the Stoxx 600 after a report suggested it plans to sell its Russian power assets by July 1. 
Source: CNBC, Investing.com