US stocks fall broadly ahead of key Fed decision on rates September 20, 2022 US stocks fall broadly ahead of key Fed rate decision<br /> September 20 2022 Creation time: 08:11 PM Last update: 08:11 PM Views: 11 New York on September 20 (U.S.): Shares were broadly lower in midday trading on Wall Street on Tuesday ahead of a major interest rate decision by the Federal Reserve, according to the Associated Press. The S&P 500 was down 1% as of 11:46 AM ET. More than 90% of stocks and every sector in the benchmark index lost steam as traders wait to see how far the Federal Reserve will raise interest rates at its meeting that ends on Wednesday. The Dow Jones Industrial Average fell 312 points, or 1%, to 30,706 points, and the Nasdaq fell 0.5%. US crude oil prices fell 2.1% and energy stocks weighed. Hess fell 1.7 percent. Bond yields rose. The yield on the two-year Treasury, which tends to follow expectations for the Fed’s action, rose to 3.97% from 3.95% late Monday and hovered around its highest since 2007. The 10-year yield, which affects mortgage rates, rose to 3.57% from 3.52% and is trading at its highest since 2011. Stocks were falling and Treasury yields rising as the Federal Reserve raised the cost of borrowing money in hopes of slowing the hottest inflation in four decades. Large interest rate increases by the central bank have made markets nervous, especially as Fed officials confirm their intention to continue raising interest rates until they are sure inflation is under control. The Federal Reserve is expected to raise its key short-term interest rate by three-quarters of a point for the third time at its meeting on Wednesday. That will raise the benchmark interest rate, which affects many consumer and business loans, to a range of 3% to 3.25%, a 14-year high, and from zero at the start of the year. Wall Street is concerned that raising interest rates could go too far in slowing economic growth and pushing the economy into recession. These concerns have been heightened by data showing that the US economy is already slowing and companies have warned of the impact of inflation and supply chain problems on their operations.insult Source link Related READ MORE Stocks turn lower as hot jobs report signals aggressive Fed
September 20 2022 Creation time: 08:11 PM Last update: 08:11 PM Views: 11 New York on September 20 (U.S.): Shares were broadly lower in midday trading on Wall Street on Tuesday ahead of a major interest rate decision by the Federal Reserve, according to the Associated Press. The S&P 500 was down 1% as of 11:46 AM ET. More than 90% of stocks and every sector in the benchmark index lost steam as traders wait to see how far the Federal Reserve will raise interest rates at its meeting that ends on Wednesday. The Dow Jones Industrial Average fell 312 points, or 1%, to 30,706 points, and the Nasdaq fell 0.5%. US crude oil prices fell 2.1% and energy stocks weighed. Hess fell 1.7 percent. Bond yields rose. The yield on the two-year Treasury, which tends to follow expectations for the Fed’s action, rose to 3.97% from 3.95% late Monday and hovered around its highest since 2007. The 10-year yield, which affects mortgage rates, rose to 3.57% from 3.52% and is trading at its highest since 2011. Stocks were falling and Treasury yields rising as the Federal Reserve raised the cost of borrowing money in hopes of slowing the hottest inflation in four decades. Large interest rate increases by the central bank have made markets nervous, especially as Fed officials confirm their intention to continue raising interest rates until they are sure inflation is under control. The Federal Reserve is expected to raise its key short-term interest rate by three-quarters of a point for the third time at its meeting on Wednesday. That will raise the benchmark interest rate, which affects many consumer and business loans, to a range of 3% to 3.25%, a 14-year high, and from zero at the start of the year. Wall Street is concerned that raising interest rates could go too far in slowing economic growth and pushing the economy into recession. These concerns have been heightened by data showing that the US economy is already slowing and companies have warned of the impact of inflation and supply chain problems on their operations.insult
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