Dow Loses 500 Points After Fed Announces Another Rate Hike

The Federal Reserve raised rates Wednesday, as expected, by 75 basis points, which resulted in an expected but sizable stock losses.

  • Stocks fell in volatile trading Wednesday after the Fed raised the rate and forecast more sizable rate hikes ahead in its fight against inflation.
  • The Dow Jones Industrial Average lost over 522 points, or 1.7%, while the S&P 500 dropped 1.71%, ending Wednesday’s session down more than 10% in the past month.
  • The Dow at its high was up more than 314 points.
  • This was the central bank’s third consecutive 75-basis-point rate hike over the past four months.
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