News Formal

U.S. stocks end sharply higher after Fed announces large rate hike to battle inflation

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

All three major stock benchmarks closed sharply higher Wednesday, after the Federal Reserve said it was raising its benchmark interest rate by three-quarters of a percentage point in an effort to fight high inflation. The DJIA rose around 300 points.

All three major stock benchmarks closed sharply higher Wednesday, after the Federal Reserve said it was raising its benchmark interest rate by three-quarters of a percentage point in an effort to fight high inflation. The Dow Jones Industrial Average DJIA, +1.

00% rose around 300 points, or 1% higher, while the S&P 500 SPX, +1.46% gained 1.5% and the Nasdaq Composite COMP, +2.50% jumped 2.5%, according to preliminary FactSet data. The Fed's rate hike is the largest since 1994, bringing its benchmark rate to a range of 1.5% to 1.75%.

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:

 /  🏆 3. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What to Watch Today: Wall Street Set to Rise After S&P 500 Officially Closed in Bear MarketU.S. stock futures bounced after Tuesday’s cooler inflation report and ahead of Wednesday’s big Fed decision. Closed?
Source: NBCDFW - 🏆 288. / 63 Read more »

Asian stocks mixed ahead of Fed rate hike decisionAsian stock markets are mixed ahead of the Federal Reserve’s announcement of how sharply it will raise interest rates to cool U.S. inflation.
Source: wjxt4 - 🏆 246. / 63 Read more »