NEW YORK (dpa-AFX) – The decisions and comments by the US Federal Reserve pulled Wall Street a little deeper into the red on Wednesday. The Dow Jones Industrial briefly fell below the mark of 34,000 points and closed with a loss of 0.77 percent at 34,033.67 points. The S&P 500, which represents the broad market 
decreased by 0.54 percent to 4223.70 points. The tech-heavy Nasdaq 100 lost 0.34 percent to 13,983.01 points.
The Federal Reserve is continuing its extremely loose monetary policy in the face of ongoing corona threats, but is apparently thinking more about scaling it back a bit. A corresponding debate has begun, said Fed Chairman Jerome Powell after the central bank’s two-day interest rate meeting. Specifically, it is about when the Fed will cut back its regular cash injections to support the economy. She currently buys $ 120 billion worth of government bonds and mortgages every month.
The key interest rate in the US will initially remain in the range of 0 to 0.25 percent. Economists had expected the decision. The aim of the loose line is to support the US economy in the corona pandemic. The Fed raised its expectations for economic growth and inflation. For this year she is expecting macroeconomic growth of 7.0 percent instead of the 6.5 percent previously expected.
Among the individual values, the shares of Oracle with a price discount of 5.6 percent were particularly under pressure. The I.T group had presented its figures for the fourth fiscal quarter on Tuesday after hours. The strong cloud business with IT applications and storage space on the Internet brought the SAP rival further significant sales increases, which, however, could not meet the high expectations.
Biontech’s depository receipts were down 6.6 percent. The analysis house Redburn downgraded the corona vaccine manufacturer’s papers to “Sell” after their recent price jump. Fundamentally, the rally was no longer justifiable to well above the $ 200 mark, it was said. It was also announced that the recently quite high vaccine deliveries to Germany are to be brought back to the agreed level in July.
The papers of US Steel sagged after a negative study by JPMorgan analysts by 4.2 percent. In addition, the metal industry was generally upset on Wednesday by Chinese intervention. The Chinese government continues to take action against the current rise in raw material prices – with the sale of state reserves and an order that state-owned Chinese companies should reduce their dependence on foreign raw material markets.
The course of the euro fell to its lowest level in six weeks after the interest rate decision. Most recently, the common currency was traded at $ 1.2,000. The European Central Bank (ECB) had set the reference rate at 1.2124 (Tuesday: 1.2108) dollars. The dollar had thus cost 0.8248 (0.8259) euros.
US Treasuries reacted with clear levies on the results of the US Federal Reserve meeting. The futures contract for ten-year treasuries (T-Note-Future) fell 0.65 percent to 131.70 points. The ten-year bond yield was 1.57 percent.
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