The Federal Reserve announced a 75 basis point interest rate increase, the rate increase was in line with market expectations, but the hawkish signal released by the statement of the interest rate resolution exceeded market expectations, the three major stock indexes in New York Stock market on Wednesday intraday after the announcement of the interest rate resolution quickly turned down and all closed down. By the close, the Dow was down 1.70%, the S&P 500 was down 1.71% and the Nasdaq was down 1.79%.
US Markets closed sharply in the red, with the S&P 500 falling more than 10% in the past month
EU Markets closed in the green ahead of the Fed’s decision, with utilities stocks leading overall gains
Asia Markets were mostly lower Wednesday, while investors await the Bank of Japan’s decision today
Federal Reserve raised rates by 75 basis points and further expects the terminal rate to touch 4.6%
Gold continued to come under pressure after the Fed’s rate hike decision, trading just below $1,660/oz at time of writing
WTI Crude Oil fell 1% following the Fed’s interest rate hike which could imply softer demand in future
General Mills climbed 5.7% after posting a stronger-than-expected quarterly profit while lifting full-year sales forecast
Freyr Battery soared 17% after Morgan Stanley declared the company’s target price to be double its current price
Chemours tumbled 8.4% after lowering its full-year guidance due to weak demand and high input costs
- Costco (COST.US)
- Accenture (ACN.US)
- FedEx (FDX.US)
- FactSet (FDS.US)
Economic Calendar (23 September 2022)
- United Kingdom Gfk Consumer Confidence (September)
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