Stocks swing lower after Fed hikes, raises outlook for rates

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U.S. stocks gave up gains to turn lower Wednesday afternoon after the Federal Reserve, as expected, raised its fed funds rate by 75 basis points, while also...

U.S. stocks gave up gains to turn lower Wednesday afternoon after the Federal Reserve, as expected, raised its fed funds rate by 75 basis points, while also signaling that rates would remain higher for longer as the central bank attempts to get a grip on persistent inflation. The Fed's so-called dot plot showed an expectation for a fed funds rate peaking at 4.

6% in 2023, with 12 of 19 policy makers showing expectations for a fed funds rate between 4.5% and 5% in 2023. The Dow Jones Industrial Average DJIA, +0.04% erased a gain of around 170 points and was down 100 points, or 0.3%, on the day. The S&P 500 SPX, +0.24% fell 0.3%, giving up a gain of 0.7%, while the Nasdaq Composite COMP, +0.36% gave up a comparable gain to fall 0.6%.

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So, because i paid $100 more on stuff this month, Powell raised the mortgage rates to 6% so my payments increase by $1000 per month....someone please explain this strategy to stupid old me? This only benefits the banks.

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Stocks sink as investors wait for the Fed's rate hikeFed policy makers will announce another rate hike on Wednesday. The market is pricing in a nearly 85% chance of a third consecutive three-quarters of a percentage point increase, but some believe the Fed will be even more aggressive. That’s great now no one can buy anything sure wish someone knew how to run the country why are we always struggling Look at the plastic talking heads. Holy shitt. Do they practice believing the bs they regurgitate for us or? One thing I don’t understand! The Fed is doing the rate hikes for improving the economy! SO WHY IN THE HELL THE MARKET HAS BEEN REACTING NEGATIVELY EVER SINCE THE FIRST HIKE?
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