Wall Street Reacts to Federal Reserve's Rate Decision

In a move that caught many by surprise, the United States Federal Reserve's Federal Open Market Committee (FOMC) announced on Wednesday that it would keep interest rates unchanged, maintaining them between 4.25% and 4.50%. This decision led to a noticeable downturn in major stock indexes.

Market Impact

By 2:11 pm ET, the Dow Jones Industrial Average had fallen by 0.49%, or 234 points, signaling a significant shift in market sentiment. The Nasdaq 100 and the S&P 500 also experienced declines, dropping by 0.79% and 0.82% respectively.

Currency Movements

In the currency markets, the euro saw a 0.28% decrease against the American dollar, trading at 1.04019. This movement reflects the broader market reaction to the Federal Reserve's decision and its implications for global financial stability.