Market

Federal Reserve Holds Rates Steady: Dow Dives 230 Points Amid Market Uncertainty

Market Reacts to Federal Reserve's Decision

In a move that sent ripples through Wall Street, the United States Federal Reserve's Federal Open Market Committee (FOMC) announced its decision to maintain interest rates between 4.25% and 4.50%. This decision comes amid ongoing economic uncertainties and has led to a significant downturn in major stock indexes.

Stock Indexes Take a Hit

By 2:11 pm ET, the Dow Jones Industrial Average had fallen by 234 points, marking a 0.49% decrease. Similarly, the Nasdaq 100 and the S&P 500 experienced declines of 0.79% and 0.82%, respectively. This downturn reflects the market's reaction to the Federal Reserve's cautious stance on interest rates.

Euro Weakens Against the Dollar

In currency markets, the euro saw a 0.28% decrease against the American dollar, trading at 1.04019. This movement underscores the broader impact of the Federal Reserve's decision on global financial markets.