Finance

U.S. stock futures dip slightly after Fed forecasts rate hikes in 2023

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Stock futures dipped slightly in overnight trading after the Federal Reserve raised inflation expectations and forecast rate hikes as early as 2023.

Futures on the Dow Jones Industrial Average fell 59 points, or 0.17%. S&P 500 futures edged 0.27% lower and Nasdaq 100 futures shed 0.43%.

U.S. stocks fell during Wednesday’s regular session after the Fed’s initial statement and economic projections. The Dow Jones Industrial Average closed the day 265 points lower to 34,033.67. The blue-chip average dropped as many as 382 points during the day. The S&P 500 edged 0.5% lower to 4,223.70. The Nasdaq Composite dipped 0.2% to 14,039.68.

Markets rallied off their intraday lows after Fed Chair Jerome…



Source cnbc.com

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