U.S. stock markets are in the midst of a “‘patient’ panic” ahead of Wednesday’s Federal Reserve statement, when many investors expect a change in the Fed’s language that would send the clearest signal yet that a rate hike is coming soon. The S&P 500 has fallen 2.6 percent since February’s stronger-than-expected jobs report a week ago boosted expectations for an interest rate increase as soon as June. Stocks may fall further if Fed Chair Janet Yellen drops a pledge to be “patient” about rate hikes in the Fed’s statement after the upcoming policy meeting.