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Stocks slide after the Fed hikes rates

jerome powell

Stocks slid Wednesday after the Federal Reserve hiked its benchmark short-term interest rate by a quarter percentage point to a range between 1.75% and 2%. Treasury yields and the dollar rose following the Fed’s announcement.

Here’s the scoreboard:

Dow Jones industrial average: 25,203.75 −116.98 (-0.46%)

S&P 500: 2,779.41 −7.44 (-0.27%)

  1. The Federal Reserve raised its target range for the federal funds rate by 25 basis points to 1.75% to 2% and signaled two more hikes are coming this year. US Treasury yields surged following the rate announcement.
  2. The 2-10-year spread narrowed to read more >>>

    Source:: BusinessInsider.Com

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