recession fears mounted thursday a day after the federal reserve slowed the pace of interestrate hikes but forecasted a higher peak rate pushing three benchmark indexes sharply lower but well off their session lows in the final hour of trade the dow jones industrial average fell 714 points or 21 to 33248 on track to book its biggest daily decline in over three months the sp 500 slumped 23 while the nasdaq composite dropped nearly 3 both heading for their worst days since september central banks in europe on thursday followed the fed in slowing the pace of interest rate increases the european central