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Dow ends over 260 points lower after Fed shows it expects 2 rate hikes by late 2023

·1 min read
Dow ends over 260 points lower after Fed shows it expects 2 rate hikes by late 2023

Stocks finished with losses, but off session lows, after the Federal Reserve on Wednesday signaled that policy makers expect rates to rise earlier than previously expected by penciling in two increases by the end of 2023. The Dow Jones Industrial Average fell around 264 points, or 0.8%, to end near 34,035, according to preliminary figures, after falling more than 300 points at its session low following the Fed policy statement. The S&P 500 ended around 23 points lower, down 0.5%, near 4,224, whi