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Stock Market Today: Dow Dives 1,123 Points After Fed

^{Published on 2024-12-18 17:01:09 - Kiplinger}
 

• The Dow Jones Industrial Average, on its longest losing streak since September 1974, was down 2.6% to 42,236. The S&P 500 declined 2.9.% to 5,872, while the Nasdaq Composite fell 3.6.% to 19,392.

The article from Kiplinger discusses the significant drop in the Dow Jones Industrial Average by 1,123 points following the Federal Reserve's latest interest rate decision. The Fed raised interest rates by a quarter percentage point, signaling a potential pause in rate hikes to assess the economic impact of previous increases. This decision led to a volatile market reaction as investors grappled with concerns over inflation, economic growth, and the possibility of a recession. The article highlights the mixed messages from the Fed, with some members indicating that further rate hikes might still be necessary if inflation does not subside as expected. Additionally, it notes the impact on various sectors, with tech stocks particularly hard-hit due to their sensitivity to interest rate changes, while some sectors like utilities saw gains. The market's response reflects broader economic uncertainty and the ongoing debate about the Fed's future monetary policy direction.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/investing/stocks/stock-market-today-dow-dives-1-123-points-after-fed ]

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