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By Staff Reporters
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Equity markets declined for the third straight day in the wake of the U.S. Federal Reserve‘s most recent increase to the benchmark interest rate.
The S&P 500 fell 31.94 points, or 0.84%, to 3,757.99, while the Dow Jones Industrial Average declined by 107.1 points, or 0.35%, to 30,076.68. The NASDAQ Composite dropped 153.39 points, or 1.37%, to 11,066.80.
All three indexes are on pace to end the week in the red, as investors worry continued rate hikes meant to combat high inflation, could result in a recession.
The Fed hiked the benchmark rate 0.75% for the third consecutive time on Wednesday, sending markets into a steep decline.
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Filed under: Alerts Sign-Up, Investing | Tagged: DJIA, NASDAQ, S&P, stock index, stock indices |
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