Stocks took a sharp turn lower to end a choppy session Wednesday, sinking after the Federal Reserve delivered a widely expected 75 basis point rate hike but also lifted its forecast for a peak in rates above market expectations.
Stocks gave up initial gains following the Fed decision, then flipped between gains and losses during Fed Chair Jerome Powell's news conference, before taking a turn to new lows late in the session. The Dow Jones Industrial Average DJIA, -1.70% dropped around 522 points, or 1.7%, to end near 30,184, according to preliminary figures, while the S&P 500 SPX, -1.71% shed 1.7% to close near 3,790 and the Nasdaq Composite COMP, -1.79% declined 1.8% to finish near 11,220.
if im correct this may be the first time the market has fallen immediately after a rate hike rather than the day after.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Market Rallies Will Be Sporadic Until Inflation Comes Down, Jim Cramer SaysStocks fell on Tuesday as investors eyed the conclusion of the Federal Reserve’s meeting on Wednesday. I though June low was bottom.. so it wasn’t now until inflation comes down Taco Tuesday 🌮
Source: nbcchicago - 🏆 545. / 51 Read more »
Stocks swing lower after Fed hikes, raises outlook for ratesU.S. stocks gave up gains to turn lower Wednesday afternoon after the Federal Reserve, as expected, raised its fed funds rate by 75 basis points, while also... So, because i paid $100 more on stuff this month, Powell raised the mortgage rates to 6% so my payments increase by $1000 per month....someone please explain this strategy to stupid old me? This only benefits the banks.
Source: MarketWatch - 🏆 3. / 97 Read more »
Asian stocks sink, yields rise as markets brace for aggressive FedStocks in Asia sank and bond yields were elevated on Wednesday, as investors braced for another aggressive interest rate hike from the U.S. Federal Reserve later in the day.
Source: Reuters - 🏆 2. / 97 Read more »
Stocks close lower ahead of Fed decision on interest ratesStocks closed lower on Wall Street ahead of a key decision on interest rates by the Federal Reserve Stocks are lower than Trump could have done WITH Covid. Bidenomics.
Source: latimes - 🏆 11. / 82 Read more »
Stocks end sharply lower as investors await Fed decisionStocks stumbled Tuesday, ending sharply lower and erasing the previous session's gains as investors awaited a Federal Reserve rate decision that's expected to deliver another jumbo increase. The Dow fell around 313 points, or 1%, to end near 30,707.
Source: MarketWatch - 🏆 3. / 97 Read more »
US stocks rise ahead of expected interest rate hike by FedStocks closed higher on Wall Street after swaying between small gains and losses much of the day as investors brace for another big interest rate increase this week from the Federal Reserve.
Source: KPRC2 - 🏆 80. / 68 Read more »