NEW YORK: US stocks slumped on Wednesday (Sept 20) after the US Federal Reserve (Fed) held key interest rates unchanged as widely expected, and revise...
Powell holding a press conference after the release of the Fed policy decision to leave interest rates unchanged in Washington on Wednesday. – ReuterspicUS stocks slumped on Wednesday after the US Federal Reserve held key interest rates unchanged as widely expected, and revised economic projections higher with warnings that the battle against inflation was far from over.
Among the 11 major sectors of the S&P 500, interest rate sensitive communication services and technology suffered the largest percentage losses. The SEP forecasts inflation to drop to 3.3% by year-end, and to approach the central bank's average annual 2% target.
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