Dow Jones Drops To 14-Month Low After Interest Rate Hike, Government Shutdown Fears

0

The Dow Jones Industrial Average closed at a 14-month low on Thursday, the second consecutive day of sell-offs after the Federal Reserve announced its fourth widely-anticipated rate hike of the year.

The Dow closed 464 points lower at 22,860, a 2 percent decrease. Though the rate hike was expected, the Fed’s revised outlook for a cooler economy stoked overall fears about a slowdown. Concerns over a looming government shutdown threatened by President Trump and the continuing trade tensions with China worried investors.

The uncertainty over the economy weighed down all of the indices. The NASDAQ ended at 6,528, down 1.6 percent. The S&P 500 ended at 2,467, down 1.58 percent.

Read more at ABC News.

{Matzav.com}

LEAVE A REPLY

Please enter your comment!
Please enter your name here