Big Tech Weighs on Stock Market after Fed Pause
Wall Street is finally buckling in for a longer ride with higher borrowing costs
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Wall Street is finally buckling in for a longer ride with higher borrowing costs
The major indexes finished in the red after the Federal Reserve kept interest rates unchanged, but left open the possibility of one more rate hike.
The major indexes finished in the red after the Federal Reserve kept interest rates unchanged, but left open the possibility of one more rate hike. Stocks were choppy in the lead up to this afternoon's policy announcement from the Federal Reserve. The major indexes failed to lift off after the central bank held interest rates steady, as expected, but signaled they will stay higher for longer. Today's anticipated pause by the Fed left the short-term federal funds rate at a range of 5.25% to 5.5%
Wall Street’s optimism has edged up in recent weeks after an August slump to levels not seen since the collapse of several regional banks earlier this year.
MARKET WRAPS Watch For: U.K. monthly unemployment figures, Treasury Committee hearing with Sarah Breeden on her appointment as BOE Deputy Gov. for financial stability;; Germany WPI, ZEW...