Wall Street: US stock markets turn into minus after Fed rate hike
The US Federal Reserve has raised interest rates by 0.25 percentage points. Some stock market indices are reacting negatively. In contrast, there are signs of a slight easing in bond yields.
The US Federal Reserve has raised its benchmark interest rate by a quarter of a percentage point to a range of 3.75 to 4.00 percent, the first increase in about three years. The move was expected by analysts and was driven by the high inflation rate, which remained at 3.4 percent in August. The US stock market reacted negatively to the decision, with the Dow Jones index falling 1.0 percent to 51,556 points, while the S&P 500 and Nasdaq Composite indices were little changed.
The Fed's decision is aimed at achieving its dual mandate of stable prices and full employment, with the labour market showing signs of robustness in August.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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