Fed Rate Hike Sparks US Stock Market Decline
The US stock market took a turn downward after the Federal Reserve increased its main interest rate for the first time in three years, aiming to combat high inflation.
The S&P 500 fell by 0.4% on Wednesday, giving up initial gains from earlier in the day.
The Dow Jones Industrial Average dropped 1.2%, while the Nasdaq composite slipped less than 0.1%.