Dow Jones Falls 530 Points As Banks Lead Fed Sell-Off; Apple, 5 Titans Mask Market Weakness

The major indexes fell sharply despite the Fed signaling just one more rate hike. Apple and other titans have masked weak market breadth in recent weeks. Read More...


US STOCKS-Wall St ends sharply lower after Powell warns inflation fight continues

Wall Street gyrated to end sharply lower on Wednesday after the U.S. Federal Reserve delivered a widely expected 25 basis point policy hike, while hinting that it was on the verge of pausing future increases in view of recent turmoil in the financial sector. The three major U.S. stock indexes, which were mostly directionless prior to the Fed announcement, jumped higher then deflated as investors digested the accompanying statement and Chair Jerome Powell’s subsequent Q&A session. “The market was encouraged when it heard that the Fed had considered pausing completely and then it was disappointed when Powell clarified that their hands weren’t tied and that they can keep raising rates if they need to,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina.

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