Power Breakfast: US Market Slips On Fed's Hawkish Commentary, Fed Raises Rates By 50 Basis Points & Warns Of More Rises
Zee Business Video Team | Updated: December 15, 2022 08:33 AM IST
US Fed hiked interest rates by 0.5% as expected. Interest rates in the US reached a 15-year high. But the commentary remained a bit Hawkish. Fed indicated further interest rate hikes. Fed indicated to hike interest rates to 5.1% in 2023. After the Fed policy, Dow fell 140 points after rising nearly 300 points. Whereas, the S&P 500 lost 25 points and the Nasdaq closed down 85 points. Apart from this, crude oil remained strong for the third consecutive day. Brent crude reached $82.67. Whereas gold traded flat, reached near $1800.
