Stocks rallied into the close on Wednesday afternoon following Fed Chair Powell's announcement of a 50 basis point rate hike, with FAANG stocks among some of the biggest leaders. Read More...
MarketWatch
Dow ends over 900 points higher as Fed’s Powell sparks relief rally
U.S. stocks closed sharply higher Wednesday, jumping as Federal Reserve Chair Jerome Powell delivered remarks following the conclusion of the Fed’s two-day policy meeting. The Dow Jones Industrial Average ended around 932 points higher, or 2.8%, while the S&P 500 climbed about 3% and the Nasdaq Composite jumped about 3.2%, each booking a third straight day of gains, according to preliminary FactSet data. The Fed raised its benchmark interest rate by a half point, as expected, to a range of 0.75%
