All three major averages are struggling to hold on to record levels after the Federal Reserve signaled Wednesday it will raise rates again this year.
Stocks are lower Thursday.
The U.S. Treasury yield curve flattened to a two-and-a half month low and key world stock markets fell on Thursday, as investors assessed indications from the U.S. Federal Reserve that it may raise interest rates a third time this year. The Fed, as expected, also laid out plans to begin the unwinding of a decade of aggressive monetary stimulus, but took a more hawkish than expected stance at this week's meeting. "The meeting was definitely more hawkish than what the market was anticipating," said Mary Ann Hurley, vice president in fixed income trading at D.A. Davidson in Seattle.