Stocks Upended After Fed Increases Interest Rate
- 5 years ago
According to Reuters, US stocks are down after the Federal Reserve increased the federal funds rate.
The move by the Fed marks the fourth increase to the benchmark interest rate for 2018.
By the afternoon on Dec. 20th, the Dow Jones Industrial Average plummeted 364-points, down to 22,959.
The Nasdaq Composite lost about 85-points, but the market fell as far as 2.8-percent during the trading session.
The S&P 500 lost about 30-points, with its top eleven sectors trading down.
The move by the Fed marks the fourth increase to the benchmark interest rate for 2018.
By the afternoon on Dec. 20th, the Dow Jones Industrial Average plummeted 364-points, down to 22,959.
The Nasdaq Composite lost about 85-points, but the market fell as far as 2.8-percent during the trading session.
The S&P 500 lost about 30-points, with its top eleven sectors trading down.