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NEW YORK (dpa-AFX) – The Dow Jones Industrial (Dow Jones 30 Industrial) significantly increased its daily losses in the course of trading on Wednesday and thus reacted negatively to the interest rate decision of the US Federal Reserve (Fed). The US benchmark index recently fell 1.89 percent to 30,352.00 points, returning to the level at the beginning of January.
After its first meeting of the current year, the Fed announced that it would keep the key interest rate between 0 and 0.25 percent. Brsians were disappointed that Federal Reserve Chairman Jerome Powell had not promised any new aid for the economy.
Portfolio manager Thomas Altmann from QC Partners also wrote that the Fed sees a slowdown in the economic recovery. While this is bad for the stock market per se, it shouldn’t really come as a surprise. After all, the economic indicators would have pointed more down again recently.
Other Brsians justified the significant losses on Wall Street with recently increased concerns that stocks are now generally overvalued after the recent record rally./la/he