Bitcoin USD – BTCUSD Overview – MarketWatch

Breaking Dow sinks by nearly 250 points as Fed lifts interest rates, signals 'some further gradual' increases needed

U.S. stocks Wednesday afternoon relinquished earlier gains after the Federal Reserve lifted benchmark interest rates by a quarter percentage to a range of 2.25% to 2.5% -- as anticipated -- and lowered its projection for further rate increases. The Dow Jones Industrial Average was down 271 points, or 1.2%, at 23,395, the S&P 500 index fell 1.3% at 2,513, while the Nasdaq Composite Index was decidedly lower, off 1.8% at 6,664. All three stock benchmarks had been trading solidly higher before the release of the Fed's policy statement and updated outlook. In its updated statement the Federal Open Market Committee said "some further gradual increases in the target range for the federal-funds rate will be consistent with sustained expansion of economic activity." The FOMC's dot plot, or projection for futures hikes by Fed members, indicated two rate hikes in 2019 rather than a previous projection for three. The indexes were declining, in whipsaw trade, as Powell answered questions during his 2:30 p.m. Eastern news conference.

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Bitcoin USD - BTCUSD Overview - MarketWatch

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