US Stocks Tumble on Fed Rate Hike, Dollar Rises
Wall Street stocks retreated Wednesday after the Federal Reserve lifted interest rates, while the dollar advanced against the euro.
New York, Dec 19 (AFP) Wall Street stocks retreated Wednesday after the Federal Reserve lifted interest rates, while the dollar advanced against the euro.
About 10 minutes after the 1900 GMT Fed announcement, both the S&P 500 and Nasdaq were in negative territory, while the Dow clung to a modest gain. All three indices had been up about one percent shortly before the decision.
The euro fell to USD 1.1396 compared with USD 1.1434 shortly before the Fed decision. (AFP) MRJ
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