us stocks just logged their first backtoback losses in two weeks on thursday as senior federal reserve officials emphasized the need for more aggressive interestrate hikes the sp 500 spx closed 1223 points or 03 at 394656 the dow jones industrial average djia finished marginally lower down 751 points or less than 01 at 3354632 the nasdaq composite comp closed off 3870 or 04 at 1114496 st louis fed president james bullard hinted earlier that the fed may need to hike its benchmark policy rate as high as 7 to successfully combat inflation