Interest Rate Hike Wipes Out Gains On Wall Street

  • 6 years ago
According to Business Insider, Wall Street wiped out it's morning gains after the Fed announced another interest rate hike.
The Dow Jones Industrial Average ended the day down 101-points, closing at 26,391.
The S&P 500 lost over 8-points on the day, while the Nasdaq Composite lost almost 2-points.
After the latest Federal Open Market Committee, the Federal Reserve increased interest rates by a quarter percent, bringing the federal funds rate to 2.25 percent.