Economic TimesLean R·
US stocks: US market closes down sharply after Fed holds rates unchanged
The Fed's widely expected decision to leave the benchmark interest rate in the 3.50%-3.75% range drew dissents from three of the 12 members of the policy-setting Federal Open Market Committee who "preferred" a quarter-percentage-point hike at this meeting. The benchmark S&P 500 hit its lowest level in a month, while the tech-heavy Nasdaq was down about 9% from its June record high. Investors had mostly expected the Fed to keep rates unchanged. Inflation has been running above the central…
Read at Economic Times →
