US stocks fell after the Federal Reserve hiked interest rates for the first time in three years and central bank Chairman Kevin Warsh highlighted pers…
1/5US markets: The Dow Jones Industrial Average fell on Wednesday after the Federal Reserve hiked interest rates for the first time in three years and central bank Chairman Kevin Warsh highlighted persistent inflation. The 30-stock Dow traded down 544.01 points, or 1%, with financial-related shares leading the way lower. The S&P 500 was down 0.5%, while the Nasdaq Composite bucked the trend a bit, trading around the flatline.
2/5US economic data: Investors will track a batch of key US economic data on Thursday, including August housing starts, the September Philadelphia Fed Business Outlook Survey and weekly jobless claims, all due at 8:30 am ET. August pending home sales data, which measures the month-on-month change, will follow at 10 am ET.
3/5FII selling continues: Foreign institutional investors remained net sellers of Indian equities on Wednesday, September 16, offloading shares worth ₹2,032.61 crore, according to provisional data from the exchanges.
4/5US Fed MeetingThe Federal Reserve raised its benchmark interest rate on Wednesday (September 17) for the first time since 2023 in an effort to quell stubbornly high inflation, a move that could spur a sharp response from the White House. The quarter-point increase lifts the Fed’s key rate to about 3.9% and, over time, could result in higher borrowing costs for mortgages, auto loans, and credit cards.
5/5Crude: Oil prices surged as fresh supply threats from Saudi Arabia and Libya compounded losses already stemming from the Iran war.
