Dow sinks 530 points after Fed rate hike

STORY: Dow sinks 530 points after Fed rate hike DATELINE: March 23, 2023 LENGTH: 00:02:28 LOCATION: NEW YORK, U.S. CATEGORY: ECONOMY SHOTLIST: 1. various of New York Stock Exchange on Wall Street 2. various of the Federal Reserve 3. various of Fed Chair Jerome Powell making an announcement 4. various of a Signature Bank branch in Manhattan, New York STORYLINE: U.S. stocks fell sharply on Wednesday after the Federal Reserve raised rates by a quarter of a percentage point. The Dow Jones Industrial Average fell 530.49 points, or 1.63 percent, to 32,030.11. The S&P 500 dropped 65.90 points, or 1.65 percent, to 3,936.97. The Nasdaq Composite Index shed 190.15 points, or 1.60 percent, to 11,669.96. All the 11 primary S&P 500 sectors ended in red, with real estate and financials down 3.64 percent and 2.37 percent respectively, leading the slide. The Fed approved a 25 basis point rate hike at the conclusion of its two-day meeting on Wednesday, forging ahead with its fight against stubborn inflation despite fina

U.S. stocks fall after Fed raises rates, signals more hikes ahead

STORY: U.S. stocks fall after Fed raises rates, signals more hikes ahead DATELINE: Dec. 15, 2022 LENGTH: 0:02:28 LOCATION: NEW YORK, U.S. CATEGORY: ECONOMY SHOTLIST: 1. various of New York Stock Exchange on Wall Street 2. various of U.S. Federal Reserve 3. various of Fed Chair Jerome Powell making opening remarks while attending a press conference on Dec. 14 4. various of consumers in New York City during holiday season STORYLINE: Wall Street's major averages declined on Wednesday after the Federal Reserve raised interest rates for the seventh time this year and signaled more hikes to come next year. The Dow Jones Industrial Average decreased 142.29 points, or 0.42 percent, to 33,966.35. The S&P 500 fell 24.33 points, or 0.61 percent, to 3,995.32. The Nasdaq Composite Index dipped 85.93 points, or 0.76 percent, to 11,170.89. Ten of the 11 primary S&P 500 sectors ended in red, with financials and materials down 1.29 percent and 1.11 percent, respectively, leading the laggards. Health care rose 0.14 percen