US stocks eased from record highs on Tuesday after comments from Federal Reserve officials fueled speculation of an interest rate hike this year. The S&P telecommunications index and utilities, among sectors most sensitive to changes in interest rates, led the day's declines. Telecom dropped 2.1 percent and utilities were down 1.2 percent.
New York Federal Reserve Bank President William Dudley said a rate hike in September was possible, while Atlanta Fed President Dennis Lockhart said the US economy is likely strong enough for at least one rate increase before the end of 2016, with two a possibility.
Dudley cited evidence of wage gains and a tighter labor market that could boost inflation. Their comments came ahead of an annual meeting of central bankers from around the world in Jackson Hole, Wyoming, next week.
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New York Federal Reserve Bank President William Dudley said a rate hike in September was possible, while Atlanta Fed President Dennis Lockhart said the US economy is likely strong enough for at least one rate increase before the end of 2016, with two a possibility. 
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