U.S. stocks end lower as Fed delivers rate hike and signals peak above 5%

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U.S. stocks ended lower in choppy trade after the Federal Reserve raised rates another 50 basis points at its final rate-setting meeting of 2022, a year in which the central bank has quickly jacked up its policy rate to its highest level in 15 years. The Dow Jones Industrial Average ended down about 142 points, or 0.4%, near 33,966, but was well off the session’s low of 33,704.17, according to FactSet. The S&P 500 index fell 0.6%, while the Nasdaq Composite Index shed 0.8%. Fed Chair Powell, in an afternoon news briefing, said more work still needs to be done to ensure that inflation follows a concrete path lower to…

This article was originally published by Marketwatch.com. Read the original article here.

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