Forex
US Stocks Steady After Fed Hikes Interest Rates
The US stock market held steady on Wednesday after the Federal Reserve raised interest rates for the first time in three years to combat high inflation.
The S&P 500 rose 0.4%, with some sectors benefiting from lower oil prices and easing pressure from the bond market.
Oil prices dropped 2.9% to $105.58, helping send the yield on the 10-year Treasury down to 4.94% from 5.00% late Tuesday.
The Fed raised rates in an effort to control inflation, which has been rising since the COVID-19 pandemic.