The Dow closed at 34,365, up more than 99 points; after a day of frenzied trading, investors were left pretty much where they stood at breakfast. Fed policymakers, set to begin a two-day meeting Tuesday, are expected to cease their emergency bond-buying program and begin raising interest rates in March. Investor sentiment — driven by Fed statements — has shifted quickly to mulling prospects for the Fed to raise interest rates repeatedly this year. A move to raise interest rates could ease the pain but also could limit economic activity, which often hits stocks — particularly highflying companies — hard. “Markets hate uncertainty, and the confluence of higher interest rates, higher inflation and moderating earnings growth are resulting in elevated volatility at the moment,” Wicker told The Post.
