Author Nomi Prins, Independent Women’s Forum visiting fellow Mattie Duppler and FoxNews.com columnist Liz Peek on why the stock market dipped after the Federal Reserve announced another interest rate hike.
U.S. stocks remained under pressure Thursday after the U.S. Federal Reserve moved, as expected, increasing interest rates by 25 basis points.
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Dow Jones futures were lower by 0.21%. The S&P 500 was down 0.23% and the Nasdaq Composite was off 0.32%.
While the hike was anticipated, the Fed is now looking for a total of four rate hikes in 2018 instead of three. Including Wednesday’s hike, the Fed has increased short-term rates two times in 2018.
The Dow Jones Industrial Average fell 119.53 points to 25,201.20. The S&P 500 dropped 11.22 points to 2,775.63. The Nasdaq Composite lost 8.09 points to 7,695.70.
On Thursday, traders will get the latest report on weekly jobless claims as well as the latest read on manufacturing in the mid-atlantic region.
Comcast on Wednesday said it has submitted a $65 billion, all-cash bid to acquire film and television assets from 21st Century Fox, setting up a direct clash with the Walt Disney Company and its pending acquisition of the same properties.
21st Century Fox is the parent company of FOX Business and Fox News
While the U.S. Fed increased interest rates, China’s central bank left borrowing costs for interbank loans unchanged.
China and Hong Kong stocks fell on Thursday, as disappointing economic data and renewed trade war fears hit investor sentiment.
The Shanghai Composite closed down 0.2%.
The Hang Seng index dropped 0.6%