Thursday, 14 December 2017

Markets mixed as Fed raises rates

Markets were mixed on Wednesday.

In the US, the Dow Jones Industrial Average rose 0.3 percent and the Nasdaq Composite rose 0.2 percent but the S&P 500 was flat.

Elsewhere, the STOXX Europe 600 fell 0.2 percent and the Nikkei 225 fell 0.5 percent.

The Federal Reserve raised its federal funds rate by 25 basis points to between 1.25 and 1.5 percent on Wednesday.

“It was pretty much a certainty that the Fed was going to do what it did,” said Eric Green, senior portfolio manager and director of research at Penn Capital Management. “It was a nonevent that had been fully priced into markets.”

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