Markets react as Fed eyes removing “patient” from rate-hike language

At next week’s policy meeting, the Federal Reserve could remove its promise to be “patient” from official language about raising short-term interest rates. That could pave the way to discuss a rate hike at its June meeting. That possibility, which could further strengthen the dollar, pummeled the stock markets Tuesday as the Dow Jones industrial average, the Standard & Poor’s 500 index and the Nasdaq all fell.