NEW YORK (dpa-AFX) – The upcoming sharp rise in interest rates by the US Federal Reserve finally frightened investors on Wall Street Wednesday. After the ups and downs of prices after rising interest rates, the Dow Jones Industrial suffered eventually 1.70 percent to 30 183.78 points. In late trading, the selling pressure has increased and the leading index has fallen to its lowest level in over two months.
The Fed continues its vigorous fight against high inflation. It raised interest rates by 0.75 percentage points for the third consecutive time. It is now between 3.0 and 3.25 percent and has reached its highest level in the last 14 years. With tight monetary policy, there is a growing risk that the central bank may soon slow the economy so much that it blocks the labor market and the economy.
The S&P 500 at the market level fell 1.71 percent to 3789.93 points. The Nasdaq 100 Technology Index
lost 1.80 percent to 11,637.79 points./bek/jha/
ISIN US2605661048 US6311011026 US78378X1072
AXC0327 2022-09-21 / 22: 18
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