TELETRADER News
9/20, 10:02 PM
(Source: TeleTrader)
Wall Street closes lower after Fed rate decision
Major United States Stock exchanges closed the Wednesday session lower after the Federal Reserve decided to maintain interest rates unchanged between 5.25% and 5.5%, and its Chair Jerome Powell stated that the central bank will continue to raise rates if necessary. The Fed also revealed that it expects interest rate to stand at around 5.1% at the end of 2024.
The Dow Jones closed 0.22% lower and the Nasdaq 100 lost 1.46%, as Intel Corp slipped 4.54%. The S&P 500 fell 0.94%, with Zebra Technologies Corp sinking 6.48%.
The euro traded 0.19% below the dollar, selling for $1.06586 at 3:58 pm ET.