Stock Market Today: Indexes Turn South After Fed Hikes Rates By Quarter Point (Live Coverage)
Investor's Business Daily
The stock market took a turn for the worse today as indexes dipped after the Federal Reserve raised interest rates by a quarter point. This sudden shift comes in response to the Fed's efforts to combat rising inflation.
"The decision reflects the Federal Open Market Committee's assessment that further insulative monetary policy is necessary to return inflation to its 2% objective over time," stated a representative from the Fed.