The Federal Reserve raised its benchmark rate by a quarter percentage point on Wednesday, bringing the target range to 3.75%-4%, sparking a market sell-off. The Dow Jones lost more than 630 points (1.2%) during regular trading, while the S&P 500 fell 0.5%. Futures then rebounded, with the Dow gaining 72 points, the S&P 500 up 0.2% and the Nasdaq-100 adding 0.4% in extended trading. August inflation came in at 3.4% and oil prices surpassed $100 per barrel. Investors are now awaiting weekly jobless claims data and August housing starts to assess the health of the economy.
Source: Read the original article
