Stocks tumble after Fed raises rates again, lowers expectations for hikes next year
Dow swings nearly 900 points in another volatile day of trade
U.S. stocks closed decidedly lower Wednesday, after Federal Reserve Chairman Jerome Powell’s press conference that followed the central bank’s decision to raise interest rates by 25 basis points, while lowering the median forecast for rate hikes in 2019 to two hikes from three previously.
How did the benchmarks fare?
The Dow Jones Industrial Average DJIA, -1.49% fell 351.98 points, or 1.5%, to 23,323.66, while the S&P 500 index SPX, -1.54% fell 39.2 points, or 1.5%, to 2,506.96. The Nasdaq Composite Index COMP, -2.17% tumbled 147.08 points, or 2.2%, to 6,636.83.
At its highs early Wednesday, the Dow had risen 381.7 points, the S&P was up 39.13 points, while the Nasdaq had advanced 84.95 points at its peak.
At its lows Wednesday afternoon, the Dow had fallen 513 points, the S&P 57.2 points, while the Nasdaq fell as much as 197.41 points at its nadir.
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https://www.marketwatch.com/story/us-sto...2018-12-19
Dow swings nearly 900 points in another volatile day of trade
U.S. stocks closed decidedly lower Wednesday, after Federal Reserve Chairman Jerome Powell’s press conference that followed the central bank’s decision to raise interest rates by 25 basis points, while lowering the median forecast for rate hikes in 2019 to two hikes from three previously.
How did the benchmarks fare?
The Dow Jones Industrial Average DJIA, -1.49% fell 351.98 points, or 1.5%, to 23,323.66, while the S&P 500 index SPX, -1.54% fell 39.2 points, or 1.5%, to 2,506.96. The Nasdaq Composite Index COMP, -2.17% tumbled 147.08 points, or 2.2%, to 6,636.83.
At its highs early Wednesday, the Dow had risen 381.7 points, the S&P was up 39.13 points, while the Nasdaq had advanced 84.95 points at its peak.
At its lows Wednesday afternoon, the Dow had fallen 513 points, the S&P 57.2 points, while the Nasdaq fell as much as 197.41 points at its nadir.
...
https://www.marketwatch.com/story/us-sto...2018-12-19
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