S&P 500 pops and drops on mixed sentiment surrounding dovish Fed hike SP500 Fed CentralBanks Technical Analysis
The S&P 500 dropped 65.9 points, or 1.65%, to 3,936.97.Wall Street ended sharply lower on Wednesday despite the dovish US Federal Reserve that delivered a widely expected 25 basis point policy hike. The Fed also hinted that it was on the verge of pausing future increases in view of the recent turmoil in the financial sector.
In the Fed's statement, the members of the Federal Open Markets Committee suggested it was on the verge of pausing future hikes in view of the recent turmoil in the financial sector. however,By the closing bell, all three indexes were off more than 1.6% The Dow Jones Industrial Average lost 530.49 points, or 1.63%, to 32,030.11, the S&P 500 dropped 65.9 points, or 1.65%, to 3,936.97 and the Nasdaq Composite slid 190.15 points, or 1.6%, to 11,669.96.
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