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Wall Street extends losses after the Fed’s decision to continue raising rates

Wall Street extends losses after the Fed’s decision to continue raising rates

The Federal Reserve announced a rate hike of 75 basis points, in line with market expectations. Although Powell hinted that rate hikes could be smaller in coming months, he left room to further tighten monetary policy if price pressures remain elevated.

“In my opinion, it is very premature to think or talk about a pause in rate hikes,” Powell said at the press conference after the decision. Powell said data since the last meeting suggests the final level of interest rates will be higher than expected.

For its part, the Bank of England today followed the Fed in raising rates by 0.75 percentage point, the biggest rate hike by the UK central bank since 1989.

This morning, the only sector that woke up in green was energy (0.53), while technology (-1.69%) and real estate (-1.25%) were the ones that depreciated the most.

Among the 30 Dow Jones listed companies, the biggest gains during the first bars went to Boeing (2.05%) and the most affected were Apple (-2.08%) and Visa (-1.98%).

Source: Ambito

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