The Dow sank as America’s economy grew much faster than previously thought in the third quarter, a sign that the Federal Reserve’s battle to cool the economy to fight inflation is having only a limited impact.“The data was stronger across the board, and if there’s anything the Fed does not want to see these days, it’s better than expected data,” said Paul Hickey of Bespoke Investment Group.“The reality of the Federal Reserve’s determination is sinking in,” said David Kotok, chairman and chief investment officer at Cumberland Advisors, referring to efforts to get the economy back on a path towards 2% inflation.“Part of the wide swings we are seeing is part of illiquidity into year-end as many traders and investors are on vacation and each new data gets overextrapolated in both directions,” noted Keith Lerner, chief market strategist at Truist Advisory Services.“Rates have declined significantly over the past six weeks, which is helpful for potential homebuyers,” said Sam Khater, Freddie Mac’s chief economist."