2023-09-20 20:44:30
Major indices closed lower on Wall Street, Wednesday, following the Federal Reserve (US central bank) kept key interest rates unchanged as was widely expected, revised its economic forecasts higher and warned that the battle once morest inflation is far from over. .
The three indicators ended the session lower following the announcement and the summary of economic expectations and the points chart that accompanied the announcement. In the chart, the central bank expects to raise interest rates by an additional 25 basis points this year to become in the range of 5.50 to 5.75 percent.
According to preliminary data, the Standard & Poor’s 500 index fell by 42.02 points, or 0.95 percent, to close at 4,401.93 points, while the Nasdaq Composite index lost 209.62 points, or 1.53 percent, to record 13,468.57 points. The Dow Jones Industrial Average fell 78.13 points, or 0.23 percent, to 34,439.60 points.
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