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Stocks Lose Record Highs as Worries Over Fed Hike Outweigh Crude Rally

Worries over the next rate hike superseded joy over the four-day rally in crude oil on Tuesday, sending stocks into the red and away from their record highs.

The S&P 500 was down 0.55%, the Dow Jones Industrial Average fell 0.45%, and the Nasdaq slipped 0.66%.

Slightly more hawkish commentary from the Federal Reserve's William Dudley and Dennis Lockhart on Tuesday increased the chances of a near-term rate hike.

New York Fed President Dudley backed an increase sooner rather than later, telling Fox Business Network that the central bank was "edging closer...