WAM
23 Mar 2023, 05:16 GMT+10
NEW YORK, 22nd March, 2023 (WAM) -- US stocks retreated from near two-week highs on Wednesday after the Federal Reserve raised borrowing costs, but signaled that it might be on the verge of pausing future interest rate hikes amid recent turmoil in financial markets.
As expected by many investors, the Fed raised interest rates by 25 basis points on Wednesday, but omitted from saying in its latest policy statement that "ongoing increase" in rates will likely be appropriate, Reuters reported.
Markets interpreted the omission as a sign that rates might be peaking, and drove Treasury yields to session lows after the Fed's statement was released.
The Dow Jones Industrial Average (.DJI) fell 0.3%, the (.SPX) gained 0.1%, and the Nasdaq Composite Index (.IXIC) pulled back to stand flat.
Get a daily dose of Dublin News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Dublin News.
More InformationLONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...
NEW YORK CITY, New York: Financial markets kicked off the week on a cautious note as President Donald Trump rolled out a fresh round...
RIO DE JANEIRO, Brazil: At a two-day summit over the weekend, the BRICS bloc of emerging economies issued a joint declaration condemning...
LONDON, U.K.: This week, BP appointed Simon Henry, former Shell finance chief, to its board as a non-executive director effective September...
DUBLIN, Ireland: Irish Rail incurred over 26,000 euros in damages due to a series of graffiti incidents carried out by a 24-year-old...
SLUBICE, Poland: Poland reinstated border controls with Germany and Lithuania on July 7, following Germany's earlier reintroduction...
DUBLIN, Ireland: Taoiseach Micheál Martin has expressed cautious optimism that the European Union and the United States can strike...
ZAGREB, Croatia: A massive concert by popular Croatian singer Marko Perković, known by his stage name Thompson, has drawn widespread...
DUBLIN, Ireland: Despite extreme heat gripping much of mainland Europe, Irish holidaymakers are pressing ahead with their travel plans,...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...