Verified sources.
Clear updates.
U.S. stocks fell after the Federal Reserve hiked its main interest rate for the first time in three years and suggested more increases may be ahead as it tries to get the nation’s high inflation under control. The S&P 500 sank 0.4% Wednesday after giving up a modest gain from earlier in the day. The Dow Jones Industrial Average dropped 1.2%, and the Nasdaq composite slipped less than 0.1%. Stocks turned lower after the Fed’s chairman said repeatedly in a press conference following its decision that inflation remains too high and the U.S. economy appears to be strengthening. The S&P 500 fell 33.92 points, or 0.4%, to 7,551.81.
Missing media or need the complete publisher report? Open Direct local · WTOP
Branded placeholder shown because no approved media was supplied.
The text below was supplied by the Scoop Newsroom app. Third-party reporting is attributed in the source panel.
No additional independently verified detail is available beyond the summary above. The original reporting remains linked in the source panel.
