Traders work the floor of the New York Stock Exchange in New York City on Thursday. Stocks fell sharply a day after the Federal Reserve raised interest rates by the most in over two decades. It's turning into an ugly day in Wall Street, with shares heading to their worst day of the year.by half a percentage point and said more rate hike of similar size are on the table, as the central bank intensifies its fight against persistently high inflation.
Subramanian said markets were adjusting for a new environment of higher interest rates after enjoying historically low rates for years. The Dow Jones tumbled over 1,100 points as of midday on Thursday, while the S&P 500 was down over 3% and the Nasdaq was down over 4%.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dow Plunges 900 Points, Tech Shares Crater As Stocks Erase Gains From Post-Fed RallyDespite a post-Fed rally a day earlier, the ongoing market sell-off continued with a vengeance on Thursday.
Source: Forbes - 🏆 394. / 53 Read more »
Bitcoin falls toward $38K as stocks abandon Fed 'reactionary rally'It's a sea of red for crypto and stocks as Bitcoin tumbles with U.S. equities on Thursday's Wall Street open.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Asian stocks rise after Fed chair downplays bigger rate hikeAsian stock markets have followed Wall Street higher after the Federal Reserve chairman downplayed the likelihood of bigger rate hikes following the U.S. central bank’s biggest increase in two decades
Source: WOKVNews - 🏆 247. / 63 Read more »
Elon Musk suggested getting into the lithium business, and these surging stocks show whyLithium is becoming a lucrative business as electric vehicles become more prevalent, and miners are enjoying the rewards. Lockdown in Shanghai ChinaLockdown Shanghai Beijing
Source: MarketWatch - 🏆 3. / 97 Read more »
Stocks Making the Biggest Moves After Hours: Etsy, Booking Holdings, EBay and MoreThese are the stocks posting the largest moves in extended trading.
Source: NBCDFW - 🏆 288. / 63 Read more »
Stocks Making the Biggest Moves Midday: Uber, Lyft, Airbnb, Starbucks and MoreThese are the stocks posting the largest moves in midday trading.
Source: NBCDFW - 🏆 288. / 63 Read more »