Stocks tumble on fears of Fed rate hikes (AP)

NEW YORK - Wall Street closed sharply lower Wednesday after a series of economic reports left investors questioning whether the Federal Reserve " /> SEARCH News | News Photos | Images | Web " /> Federal Reserve might resume its string of interest rate hikes when it meets later this month. A Labor Department report that wages rose at an annual rate of 4.9 percent in the second quarter, above the 4.2 percent the agency estimated, was an unpleasant surprise for a market that had reached three-month ...