US stocks: Indexes fall 1% as regional banks tumble, investors fret before Fed

Major US stock indexes dropped by over 1% as regional bank shares took a dive on renewed fears surrounding the financial system, and investors waited to hear how long the Federal Reserve (Fed) could hike interest rates. The Fed is anticipated to raise rates by 25 basis points on Wednesday, and investors are on the lookout to see if it announces if this the last hike for now.

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