NYSE Closes Lower Following Fed’s Statement

The New York Stock Exchange (NYSE) closed lower on Wednesday after the Federal Reserve pointed to its expectation that interest rates will be raised earlier than previously expected with two rate hikes in 2023.

The Dow Jones Industrial Average fell by about 266 points, or 0.77%, to close at 34,033.7 points.

The S&P 500 ended down by 22.9 points, or 0.54%, at 4,223.7 points.

Meanwhile, the Nasdaq Composite Index lost 33.2 points, or 0.24%, to close at 14,039.68.