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New York, Sept. 16 (Petra) — The Dow Jones Industrial Average
dropped 630 points, or 1.21 percent, on Wednesday to close at 51,462
points.
The decline followed a unanimous decision by the US Federal Reserve
earlier in the day to raise its benchmark interest rate by a
quarter-percentage point (25 basis points) in a bid to curb
persistent inflation and cool the economy.
Following Wednesday’s trading session, the tech-heavy Nasdaq
Composite Index slid 3 points to settle at 25,978 points, while the
broad-based S&P 500 Index fell approximately 33 points, or 0.44
percent, to finish at 7,552 points.
Meanwhile, US West Texas Intermediate (WTI) crude oil prices
plummeted nearly $4 to settle at $101.88 per barrel.
//Petra// AF
