S&P and Nasdaq fall 1%, Dow off 308 points in third day of selling U.S. stocks closed lower for the third session as rate hike jitters continue to plague investors. Material and energy stocks paced the 1% drop for the S&P 500, while financials fell the least. In commodities, oil fell over 5% closing at $91.64 per barrel. More on this For more news, please go to FoxBusiness.com and watch Fox Business Network.

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