Stocks Dip, T-Yields Gain After US Interest Rate Hike

The major US stock averages retreated, reversing earlier gains, after the Fed announced its third consecutive 0.75-percentage-point interest-rate increase. The two- and 10-year U.S. Treasury yields rose to 3.581 up by some +0.17% after the announcement.

Following is how the US indexes are performing versus five minutes before the rate policy decision was announced:

S&P 500: -0.5% versus +0.6%
Dow industrials: -0.5% versus +0.5%
Nasdaq Composite: -0.6% versus +0.6%